See RefundQueueConsumer::processMessage at L82. We never cancel these if they fail and the return reason is one of the reasons we consider retryable. For example, cid 64776232 has 19 failed SEPA payments in a row and never succeeded).
We should set a reasonable number of retries when we revisit the broader retry question for all recurrings. See also T420661: Figure out what the ACH recurring failure flow looks like regarding ACH recurrings.