Just seems stupidity it can't be re set without the home button. 😠
Why? It's an important part of the device. It would be like saying its stupid I can't use my iPhone without a screen, or a battery? It's a very important part of the iPhone, and it relies on it to work correctly.
From what I read the home button stopped working seems to be a common problem as well. Maybe Apples way of diminishing the used market 😠
I doubt it. I've owned Apple devices for the better part of 20 years, and devices with home buttons since the first gen iPod touch was released in 2007. I've never had a home button ever fail on me. I had the power button on my iPhone 5 fail, and that was subject to a recall by Apple when they found out about it. If anything Apple is one of the best companies out there when dealing with issues that affect a large amount of devices. They offer recalls, some several years after the warranty is over, and still repair it for free.
For whatever its worth, the iPhone X no longer has a home button, but still relies on at least one external button to work.