It’s certainly not outrageous. It’s how people regularly find vulnerabilities in all kinds of closed-source software.
You certainly can “prove” and “disprove” “security” by reverse engineering, to the same extent a source code review can (or even more, since you’re looking at what’s actually running on the device). It can often require a bigger time investment, but even that’s not always the case in my experience, especially if you’re working with a really bad code base.