I've recently stumbled upon an interesting Quanta Magazine article. It states that indistinguishability obfuscation (iO) 's theoretical feasibility has been proven, referencing a relatively recent paper by Jain, Lin, and Sahai. However, the Wikipedia article for iO states that the work presented in this article relies on the "dubious" assumption that there exists a PRNG in $NC^0$. The authors of the paper explicitly list this assumption, but what makes me stumble here is the Wikipedia article's wording. I've taken a look at the paper referenced in the Wikipedia article. I've got some base knowledge in cryptography and some more refined knowledge in complexity theory, but not enough to fully understand any of both publications. However, I've taken from glimpsing at the Applebaum paper that the question about the existence of said PRNG indirectly touches on the $P−NP$ question, making it seem to me like an unlikely-to-be-soon-settled question.
So I'm now very confused about the reliability of that Quanta Magazine article. As you've probably gathered by now, I'm not from the field of cryptography. But I took from the article that this technology (if truly feasible) could potentially revolutionize the way we think about cryptographic protocols, which makes me wonder why it didn't make bigger waves.
My question is this: Is that proof of IO reliable (i.e., can one by now safely say that IO is theoretically possible, ignoring all of the troubles of practical implementation and application), or does it stand on some for-now-unverifiable assumption?