Families that purchased recalled Graco seats do deserve monetary reimbursements, but only up to the amount that they paid for the seat. The manufacturer shouldn't have to pay extra money on top of that simply because their product was defective. Implementing such a requirement is unfair to the product's manufacturer.
Families who bought the Graco car seats probably do not want to take the chance of purchasing any other car seat from this manufacturer right away. That means that the seats should be turned in for money and not for a credit. It is the manufacturer's fault if something is unsafe.
Families who purchased recalled Graco seats should receive monetary reimbursements. In one of the biggest such recalls ever, Graco has agreed to recall 3.7 million child car seats manufactured in recent years -- even as it officially contests a government request to recall nearly 1.8 million
more -- over a buckling issue. These people deserve some sort of pay back or voucher so they do not lose anything.
In this case, Graco is replacing the faulty part, which means that they really don't have to monetarily compensate people who purchased it. The fact that there is a buckle flaw with these seats could have been dangerous, so an official apology wouldn't hurt; however, it's currently doubtful since they're contesting the government's recall of many more car seats.
No, families who purchased recalled Graco seats should not receive monetary reimbursements, because they should receive new products that do not have the defect. If Graco can fix the products, and still give people what they agreed to purchase, there is no need to provide them financial compensation. They have already been made whole.