I love this idea - count me as another who thinks Jetpack should be hidden from all but the Admins, regardless of whether others can "do" anything with it or not.
However, I'm using the Sidebar Login plugin, and when this Hide Jetpack is enabled it breaks it's functioning. When you try to log-in with this sidebar plugin, it just "spins" and never goes anywhere. (I have to go back to wp-login.php to access the site.) Once "Hide Jetpack" is disabled, it works again.
Sorry to report this - and it's not a really big deal - but hopefully Automatic will see the wisdom of hiding this from non-admins! (See me holding my breath?)