Apple Updated I Phone 7 which caused the phone to stop working. Cupertino California

Apple released an update which rendered my phone useless. After the update I can no longer hear anything on incoming and outgoing calls and the speaker button is greyed out. With little research I found that this is a very popular issue with Iphone 7's and Apple has even released articles regarding this issue.

I went to the genius bar and they said my options were to pay 319$ for a repair that may not work or trade in for a new phone. This is extortion, I payed 8004 for this phone and I did not drop it or get it wet and because of an update i am being forced to pay 300$ - 1200$ for a new phone. I spoke to a representative from Apple support and was basically told that maybe i could get a headset and that might help but Apple was washing their hands of this issue.  Its a shame that hard working people are being treated like this just for the company to make a dollar at the expense of little guys like me who cannot afford to buy new items all the time.