It does if you make the card self destruct if you don't write "signed, ricardobeat" on it. Courts have been over this in the 1990s with Nintendo. The Gameboy wouldn't boot any game that didn't start with "signed, Nintendo" so game companies just put that there and it wasn't illegal.

(Later, a trick was found to replace the signature and still boot, but it required extra chips in the game cartridge)