I understand that bit, and usually do a few of the software oriented changes myself. Sometimes it's for extra features, sometimes it's to get rid of unwanted features, but usually it is to feel in control of a device that I own.

I doubt that anyone does it to feel smarter than the developers though. Most modders are aware that the developer's hands are tied by management and marketing decisions. In the case of software mods it is usually adding a missing piece of software (e.g. a preexisting driver) or something has to be circumvented. Even in the case of hardware mods, most of the components are already there and simply need to be exposed.

For most people, HarryT's question is valid. For those who can modify their hardware, why not? It saves money and gets you features that wouldn't exist otherwise.