The image is a joke, and is a gross misrepresentation of how it works. Well, almost.
NTRBootHax, formerly known as MagnetHax, has been released for public usage.
Earlier this year, with a combined usage of a Magnet and a NDS Flashcart, @SciresM demonstrated in a video that he gained early access to bootrom of the 3DS.
This method is also said to be able to salvage 3DSs' from the hell, that made them effectively a brick.
A magnet is only required for models that can be "flipped shut"; 2DS (non-XL) doesn't require this.
Possibly due to an oversight by programmers/hardware developers, the 3DS checks to see if Start+Select+X is held down, and if the shell is closed.
If so, the 3DS will attempt to boot from an NDS cartridge from the bootrom (with bootrom access).
Hence, the purpose of the magnet is enable a state that the 3DS believes that the shell is closed.
With this hax, it'll allow CFW installation, enabling the use of save editors like PKHeX and ROM hacks.
Pikachu is being distributed at the annual Pikachu Outbreak in Yokohama, Japan from August 9, 2017 through August 14, 2017!
We need your help in obtaining the WC7FULL Yokohama Pikachu event. Very limited on time to collect this file, so any cooperation is appreciated.
Prerequisites: Device running CFW, BootNTR and JKSM or equivalent save manager.
If you are able to attend the event, here is a guide that will teach you how use NTR to do a RAM dump, which will ultimately provide the WC7FULL.
For ongoing discussions and to submit your files, please visit the following forum:
Sources: pokemon.co.jp, yokohamajapan.com
Special thanks to Event Contributor @argus1963 for providing Project Pokémon with the WC7FULL files for Ditto, Mimikyu and both Pikachu; all of which were obtainable during Sunday's parade.
The files will be available in the Event Gallery after the Event Staff has properly inspected them.