I give Samsung huge props for doing this. Yes my iPhone is my daily driver, but owning a note 5 (with a note 7 on the way) I can say I have all of the confidence in the world in this company. They are being incredibly cautious but it shows they are brave enough to admit there is a problem and fix it 100% even though it will hurt their bottom line for months to come.
And to my fellow Apple friends, it's not a time to gloat. This could easily happen to Apple as well, when these things are tested they can't go through every possible scenario of what might happen in the real world. These things happen.