STR-DN1080 stuck in clearing loop

[FlyingHippo]

I just bought a secondhand STR-DN1080, but I couldnt get the HOME menu to appear.

So i decided to do a factory reset as described here:
https://helpguide.sony.net/ha/strdn108/v1/en/contents/TP0001221267.html

And now it just has the blinking CLEARING text on the display.

And after a few minutes it turns off and on again, and repeats.

I search for people online with similar issues, and the consensus seems to be that the receiver is just a paperweight now.

I haven't even had it for more than 3 hours!

Is this really the case?

Is my only option to get a new mainboard for 5-6x the price that I paid for the receiver?