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Further I see no mechanism for this object to slowly spiral in for a soft landing as you postulate. The increase in kinetic energy in a low orbit does not account for the sum of the gravitational potential and kinetic energy in high orbit.
And it makes little difference anyway - whether the amount of energy that has already been calculated gets dissipated in a day or a century, it will still melt the whole crust, likely with plenty of heat to spare.
And as to formation of the elements: not all isotopes, or even all elements, that exist on earth can be made in non-supernova events. The so-called "r-process" nuclides can only form in catastrophic (=supernova) events, where there are simultaneously enormous densities, high temperatures, AND huge fluxes of neutrons. Europium, IIRC, is one element like this - it can't be built by sequential neutron capture, as the intermediate products beta decay too quickly - only by a rapid sequence of captures not availably in such "placid" events as star mergers.