I don't think the Openreach ONTs being locked has anything to do with it being shared medium.
The ONTs are no more secure by having their WebUI stripped.
They don't have a web UI at all, because they are not layer 3 devices. They don't even have an IP address.
After all the serial number is on a sticker on the rear of the device
Yes, but it's hard for someone who is outside of your house to get the serial number.
The security of a PON network is somewhat laughable, but here's how it works:
* The ONT thinks of a random key
* The ONT sends this random key *in plain text* (!) in a control frame to the OLT
* The OLT starts using this key when communicating with that particular ONT, until the ONT next requests a key change
This security relies on two things:
* Light which travels upstream through the splitter mostly goes straight on. Very little is reflected back to the other client ports on the splitter, so you'd either need to intercept it at the splitter itself, or have very sensitive equipment on a different splitter port.
* Transmit and receive are on different wavelengths, which are physically split inside the ONT, so an off-the-shelf ONT is incapable of receiving the transmissions of another ONT.
These two points mean that you can't just use a firmware hack on an ONT to sniff the transmissions of another ONT on the same PON (including the encryption key). You'd have to have specialised equipment.
However, you can also assume that if anyone wants to hack your connection badly enough, they won't need to take over a neighbour's house to do it, or to enter the footway box to physically access the splitter - they will have capability to do it at the exchange anyway.