As I understand it, .40 S&W rounds are very high pressure, more so than .45 or 9mm. It's pushing the envelope to the limit, so to speak. If one of those goes off outside the firing chamber, especially in a plastic gun, it's going to cause a mess. Good idea NOT to use reloads, if reloads might cause problems.
Very glad you weren't badly hurt Matt. I can't believe S&W failed to see the two cracks, they are extremely clear to me in all your pictures.
I have a 9mm Shield. I have enough bang to control in my Springfield XDm .40 compact, and that's a larger gun though not full size.
From the various pictures posted of busted guns it seems that the .40 Shield is an accident waiting to happen to the person firing it.