But this is the problem with "soft resets": there is no clear definition for what it does. Every company, and often individual products or product revisions, implement "soft reset" differently. Given this app tries to do everything (and does it poorly, as you noted), I tried to start small, so if I had to start over to match my network setup, I could easily wipe it clean and start over. Why make that hard to do?
Rather than taking away the "full reset" and including a static IP option that doesn't work, why not just say "Static IP assignment is disabled on this device. Use IP address reservations on your router instead."
"User interfaces" are for user convenience, not developer convenience.