in principle, every new competitor on the market should be viewed positively. be it in terms of hardware wallets or e.g. mining.
Regarding Square's hardware device, which is not a hardware wallet, the one positive thing is that another brand could take a look at it and decide it's useless. But they could draw inspiration from it and actually create something meaningful and safe. But since this device is meant to target newbies and first-time crypto users, I think it will succeed regardless of its drawbacks. Good marketing results in wonders.
I can attest that we are drawing inspiration and discussing how to build a similar product at a similar cost without the multitude of drawbacks I noted in my blog post.