Yes, this is more of a last-resort if everything else you've tried failed. If that doesn't work, then you definitely softbricked.You said this: take out the SD card and wait about a minute on the black screen, right?
Formatting is definitely safer, but also remember that some people actually care about the data they would lose if they did that.It could've been a file or two, but given the potential danger, the nuclear option (Format) seemed preferred.