The scams this directly targets are well known and common. Someone gets a phishing message, they have someone install some sort of malware on the device, then their bank accounts are drained into some offshore account never to be seen again.

That's why there's a requirement for restarting the phone and waiting 24 hours.

The restart ends the connection for any remote-access software or phone call that might be driving the operation -- and the 24 hour wait period breaks the "urgency" part of the scam that prevents other people who know better from stopping the vicim from continuing.