+1. I give it less than a week before we start seeing all the "Help I hit erase all content and now I'm stuck!" threads haha. All those people will sadly have to restore their device.
The only times I've ever heard about it not causing a device to get stuck is when that person hit that button right after jailbreaking. I'm not even sure if this person ran Cydia the first time to create the file system. But I remember reading on this forum when someone said they didn't have to restore. If you haven't opened Cydia yet then "maybe" you could survive but I doubt it. Mostly everyone knows you can't use that button in the settings app. Who knows, maybe the person who said that was a lying troll haha.
Im glad evasion disables OTA. Not for any personal reason as I'm well aware of the rules, but for other unsuspecting people. That must suck to be forced to upgrade and lose your jailbreak. I always feel bad for them.