Yeah, I think that's most of the story here. Stuff happens. Samsung, by all objective measures, really did try to do the right thing when things went bad, but they still didn't seem able to get ahead of events.
I think this should be a lesson to all companies: have a contingency plan for disaster. Planning for disaster is not inviting disaster-- it's a hedge.
If I ran Samsung, I would cancel the device and do a full recall for refund or store credit. I'd also send out free S7s and eat the cost. This would pay dividends in the long run.