If the process doesn’t include any phone home stuff, and is just a one-time cool off period to prevent scammers, this is acceptable to me. That should be enough to get potential victims to self-question, ask more knowledgeable people of what’s going on to avoid being unknowingly hacked, without being naggy every time for users that want to do what they want.

Making a software “foolproof” will probably invent a bigger better fool, hoping for some sort of free crypto app jumping through these hoops, but this should weed out most of the basic scams.

It still sets your phone in a state that marks it as security compromised. This could lead i.e. to banking apps not working. I’m not so sure about the “acceptable” state of things here.