The other thing is that it’s easy sometimes to “not” press the reset button when trying to press the reset button. What I mean is that the button is a small little “target” for you to hit with a small pointy thing (ie: a paperclip). Sometimes it’s easy to stick that paperclip in there thinking the reset button is being pressed but the paperclip is not actually hitting the button. Double check that you are indeed hitting the button (you should feel the press).
And unless it is disabled as @dolbyman pointed out, it will absolutely do something. The short press (what you want), will beep and the NAS will reboot. The long press will wipe out everything so don’t do that.
I think this is part of my problem: I am definitely pressing it, but nothing happens. And I don’t recall disabling that feature.(personal NAS in my private home with no malicious folks around ;-)))
I have never heard of a reset button being broken physically, but this could be a first (for me).