I think it depends on what exactly happened.

If a heritage shoe company doubles prices, moves production overseas while producing worse quality, and then markets explicitly to a fringe political group, it's hard to un-ruin it. Brand images are sticky and production facilities don't re-emerge in your home country out of thin air.

But if a software company were to genuinely own up to their mistakes and say "We went wrong in this specific way and we're going to fix it by sunsetting [hated feature], reverting pricing to the old policy, and prioritize fixing application speed and stability", then you can salvage some trust.

I go back and forth on this. Maybe it is the right inclination with software development where there is a strong drive to keep pushing more features and trade offs in terms of “technical debt” or footprint can get pretty abstract at scale. But then I think of an operation like the Disney Parks and it really seems like the delight comes from constant, sustained effort. They’ve got people around attending to everything and fussing over every little detail around the park. They can emergency dispatch characters to an area if they see kids who seem like they might start to have a bad time. They have secret stashes of diaper changing kits and first aid materials so Mickey Mouse can show up and save the day if someone has an accident. There’s ways they’re not ruining it I guess, but the main impression I get is that they just never take their foot off the gas when it comes to making sure everyone is having a good time.