Oh I agree. I mean, they could pull off a Hello Games and salvage their image at least with the general public, but I don't think they will.Overall confidence in the company and their ability to deliver a reasonable quality product must have taken a significant hit with customers, partners, and investors.
Even if/when the dust settles this is very bad for any company. It doesn't matter "how well they fix it". They have used up their emotional credit. Surviving another stunt like this is unlikely. This makes their next release that much more difficult.
I just hope they haven't hurt the genre. I would like to think that when it comes to space games, even if Frontier fails,

out there somewhere, ready to come in and make the game Frontier never could. Someday.. Maybe....
But it's too early to cast bets yet. I'm waiting to see what the state of the game is a month from now before I get too "hysterical" as the OP says.