ColdCard feels to me to be idiot proof, but there will always be someone who can come along and screw up a process that should be impossible to screw up.
Pmalek is correct in the fact that if you have your seed you should be fine. But the time and effort and stress in recovering is a thing as is the expense of buying a new wallet.

I have not heard of any failures that bricked a device but I have not looked that hard.

Another thing to keep in mind that unless the firmware fixes some glaring vulnerability or adds a feature you must have, then you can probably skip doing them.

I have 2 HW wallets, one I use for my warm funds, that one is up to date. One is for long term cold storage, not updated or plugged in for a couple of years now.

-Dave