I always thought Apple should have offered free battery replacements, ideally ones that had been re-engineered to better maintain voltage, so I think Chevy's approach is good here given the predicament.
Having to accept a very small risk of fire or lose range temporarily is really unfortunate, but all 2017-2019 owners are getting a 6kWh (20ish mile) upgrade in addition to everyone getting a brand new battery with a fresh battery warranty. Options for buy back or partial refund would be good to present as options but idk how many people would take it in this car market and/or with the option to get a brand new battery.
If an owner wants a buyback, the automaker buys it back. If the owner wants to keep the vehicle with whatever changes need to be made to make the vehicle safe, they keep the car and a check is cut to make them whole for the diminished value of the vehicle.