If it’s your first time setting it up, it’s probably doing the initial upgrade, which is breathing magenta (red+blue). That can take a couple of minutes, depending on internet connection, wifi, relative position of the galaxy, etc. Give it some time, and it could/should work itself out.
Rather than doing a factory reset, upgrading to the latest firmware might be more beneficial. You’d currently have to install the CLI for that, but that’s worthwhile installing regardless.