Yeah. There's a limited number of times you can yank it out and make it write to flash. It only writes to flash on powerfail.

You're not going to go anywhere near this limit unless you sit there inserting and removing the empeg about 6,400,000 times or if you reflash the kernel around 100,000 times.
* To ensure consistency, each block is written with a CRC (126 bytes
* of data, 2 byte CRC) so that on powerup, the software searches the
* flash memory for the latest (ie, highest address) block with a
* correct CRC, and copies this into the ram buffer. It then looks for
* the first 100% blank (all 0xffff) page in which it will store the
* updated information at the next powerfail. If no such block exist,
* an erase page command is issued. Since the flash page is 8k long,
* we only need to erase the page after 64 powerfails. As the flash
* is rated at 100,000 erase cycles, this means the flash will give
* out after 6,400,000 powerfails
You can replace the flash chip if you're good at SMD rework. You'll also need to program the protected bootloader as well. In other words, no it's not that trivial to replace and if you had to ask then you probably shouldn't do it