Excuse my ignorance with this buy, honestly, I have no idea if mine is okay or what. I have been using my 1070 since July with no issues. Played through all of the Doom campaign on Ultra in one sitting last month.
Your card is probably fine, but it is still susceptible to critical failures and reduced life-time to due the way VRM is cooled. Just install the new BIOS update and play normally; don't touch voltages and/or keep it at stock clock speeds.
I had the card since July; I played the shit out of it before September started and I only had the blackscreen/fan issue when I started to push the overclock settings (mainly voltage). It still runs fine (better) with stock voltages, but I installed the BIOS and ordered thermal pads. There is a possibility of the card dying (as some owners reported on EVGA forums), and in some extreme cases, it catches fire and FUCKS your other components.
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Speaking of other components, I remember reading the warranty of my older Corsair PSU, where it states that Corsair doesn't cover the damage that the PSU might cause to your precious 2000$ components.