Picard Wtf

It's a distress/emergency signal.

If your phone is saying "SOS only" I assume that would mean that for the time being you can't make calls and texts like normal and can only make emergency calls (like 911).

As a distress signal,... Save Our Ship,... or Save Our Souls.
On a phone,... it may mean Same Old Sh*t... at least in my geographical area!