- Why not change that and not ship the Common Key?
→ Maybe the current devs will. Personally, I don't think it's useful or likely to change anything. Anti-circumvention is about providing a technical mean to bypass copy protection. If you think Dolphin violates this, the common key isn't the problem, the whole "decrypting Wii discs" feature is the problem.
- Is Dolphin at risk?
→ I don't think the project is more at risk than in the last 15 years (pretty sure I'm jinxing it). It took Valve literally poking NoA legal for this takedown to happen. For all the shit people are giving Nintendo, I think they've been generally good to their emulation communities. Hopefully this continues!