I’ve had an open box item that wouldn’t set up or reset. Returned with minimal fuss.
it really depends upon who is doing the renewal, what kind of item. Open box should be like new, with all the original paperwork and accessories IMHO, ready to use. Sometimes cords have been unwrapped. YMMV
https://forums.woot.com/t/refurbs-a-glossary/757894 (note description of “open box” items)