No, 14 failed PIN attempts resume in a physically bricked device. There is no way to reset without the current pin. So it is not possible to bail out early and just start over with a new pin and import a wallet. If the user loses/forgets or just fat fingers the pin (and can't guess it) it's a $200 piece of electronic waste.

I believe the justification for this is to dissuade theft and sale of used devices. 

I get the intent but I'm not sure it's worth it. I really want to choose OSS but I think I have to consider a different hardware wallet.

Thanks for the reply!