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1) Use the firmware you have
2) Get another router

One gigabit is fast enough to download a DVD image in less than a minute. I envy you.

100MBps speed limit? How fast is your ISP?

Is it a router or actually a DSL modem? Reflashing a modem is something they're liable to notice and not appreciate.

If your model is compatible with OpenWRT, you can replace it outright by...

Depends a lot on the drivers available and when they get loaded in the boot procedure. It's the exact same risk for the exact same reason anyway - the slightest mistake will brick it.

There's...

Oh, now I see.

/dev/root on / type squashfs (ro,relatime)

You aren't going to be able to write to this. It's an unwritable compressed filesystem which is stuck the way it's made.

You'll...

This is wrong: mount -o remount, rw /

There's a very important space which shouldn't be there.

mount -o remount,rw /

Actually, though - your mount command says that / is rw now.

What...