Trying to reset my electric water heater but I can't find the red reset button

Original post:

So I'm on my way to the store to pick up a voltage tester b/c our showers have been noticeably room temperature today. We own our place so I'm attempting some basic DIY troubleshooting steps before I call a plumber. Found this 4-minute video guide to resetting an electric water heater. At 2:30 into the video, right after the plumber removes the cover plate and insulation, the white plastic cover in the video has two holes, and the top hole supposedly has a big red button to reset it.

I've already flipped off the circuit breaker and removed the metal cover plate. The problem is, on mine the white plastic covering on the thermostat only has one hole, there is no big red reset button on my thermostat. Any tips on where else to look for the big red reset button? If it makes any difference, I am located in the US, and I believe the brand of my water heater is State Select, model number ES652DORT 210.

Side question - should I take steps to protect myself against the outer insulation wrapped around the overall water heater? I kinda just went in there guns blazing and didn't think about gloves, masks, etc.

Photos:

Thanks in advance for everyone's help!

EDIT: Today I learned there are two thermostats, and the big red reset button is on the top one! Unfortunately, pressing it did not click like I was hoping. This leads me to believe I have a bad heating element as suggested in the comments. My next step is to get a multimeter so I can check continuity, resistance, and amperage. Thanks to those who have weighed in so far.

Photos of the top thermostat: