This doesn't fix the underlying vulnerability; it merely scans for known ways to exploit it. I'm sure some clever people will find a way to thwart these scans and exploit the vulnerability, unless it gets fixed.
The only way this sort of thing can be taken care of is if Google or some governments in countries with a large market share will mandate vendors of phones or their manufacturers to provide security updates for devices for at least the duration of the contract, but preferably for the expected life of the device. Devices tend to keep working for three or four years, so that way Android users would get a similar security experience as iOS users.
Most managers wouldn't want people to have two computers on their desk, since hey, they can save 50% on desk top systems by merging them. As long as system admins do their work, nothing could go wrong, right? I'm a penetration tester by trade and no matter where I go, even thin clients and virtual machine setups aren't properly separated.
People trust way too much in technical capabilities of devices and underestimate the ingenuity and perseverance of intruders to circumvent or penetrate those devices. Sneakernet to transfer data from and to the internal network(s) and not using VLANs for separating them isn't too bad if implemented properly. Computers are way cheaper than people. They are way cheaper than technical solutions to keep networks separated including their maintenance. They are way cheaper than having an incident where your internal IT is compromised. It just looks more expensive on the desktop, which is the only place non-security people tend to look.
They have done so in the past and succeeded.
If a company does business in the USA, they can force them to comply or they will lose their business in the USA. If a company has even a single USA employee, they will force the employee or the employee will lose citizenship and/or risk detainment when entering USA territory. They will even arrest and detain foreign employees of companies not complying if they set foot on USA territory for this.
There are actual companies in the EU that will take great care to not have any USA customers or employees or be dependent on USA vendors for their IT infrastructure just because of this. Plenty of EU organizations and companies have chosen or are legally mandated not to use USA vendors for products and services and to not employ USA citizens because of this. If anything the USA is biting themselves in the ankles with this sort of legislation.
"resetting" your phone to manufacturer settings doesn't wipe any data. Even manually "deleting" it and then "resetting" the phone doesn't do that. It merely marks the flash memory in the phone to be "reusable".
The only way to make sure the data is gone is to fill the phone up with garbage data after you've done a factory reset so there is something else written to the flash memory. After you've filled it up to the last bit, do another factory reset and you will be as close as you can get without destroying the physical device to wiping your data properly.
Living on Earth may be expensive, but it includes an annual free trip around the Sun.