Yes. Your security might have been good enough, but world moves on. Back in the day Triple DES was good enough, but you are very irresponsible if you use it today.
I get that whenever you are looking anything from inside the industry there is constant need to make processes faster and cheaper. I am sure all car manufacturers would immediately remove seat belts and air bags if they could. However is maximizing profit really what society needs? I think we should have more laws and regulations around product security. *All* products should meet some minimum security standard, but until we have some governing body that can enforce this we will from time to time run into issues like with this device where the large company is decade or more behind the world due to neglecting R&D and now they don't want to pay for their mistakes.