Lulz Security Collective: A Return to Old School Hacking?

UK authorities have arrested a 19-year-old under suspicion for his potential connection to the hacking group LulzSec. The group has claimed to have pulled off attacks on PBS, Sony and the Senate.
The group has a mischievous persona. It has set up a hotline for people to call in and suggest sites that should be attacked. The recorded voice that answers claims, in an exaggerated French accent, that “Pierre Dubois and Franvois Deluxe” are not available because they’re out hacking websites. Yesterday,  they announced that they’re teaming up with Anonymous, another hacking group with a deeper political bent. Is Lulz Sec a legitimate threat? And if they’re not, how are they getting into these networks?
Marc Maiffret, chief technology officer at eEye Digital Security, says the group is reflective of a throwback to old school hacking, where hacking was done for the fun of it, and are proving that there are major faults in the business and governmental online infrastructure.