If the entire motherboard needs to be replaced to get the MBP working again...
... then it's probably not worth it. Unless you can find one really, really cheap.
Either sell it for parts, or put it in the closet.
Hmmm... you said you were able to access the SSD by booting from another Mac?
Did you use target disk mode to mount it, and then CCC?
If that works, seems to me you could erase the internal drive as well?
If you CAN get it erased using disk utility (be sure to go to the view menu and choose "show all devices"), could an OS be re-installed onto it?
It was a weird situation and I still don’t exactly understand how or why I was able to access my data.
As mentioned, my 2016 MBP ended up in a kernel panic loop. It wouldn’t boot into safe mode and the internal SSD wouldn’t mount in Target Disk Mode, but it would boot into both Recovery Mode and Internet Recovery Mode. However, trying to save my data by creating disk images using Disk Utility only worked for one relatively small folder (Documents). Anything bigger would consistently return an error.
Then I read about creating a bootable external, so I installed Big Sur on a 2 TB LaCie HD and booted from that. Bingo! The internal SSD mounted, I was able to see all of my data, and I used CCC to copy the entire drive. I was able to save everything except about eight corrupted photos and a few other non-essential files totaling maybe 5 MB out of about 450 GB (!) in data.
As much as I’m thrilled I was able to save my data, it seems weird that I was able to see and access it by booting from an external. My MBP obviously was password-protected (but not FileVault-enabled), but booting from the external bypassed that. That doesn’t seem very secure at all.
Anyway, after saving my data, I let the old MBP sit for over a week, as I had fallen behind on work and needed to catch up. Then, the very next time I tried to boot the MBP via the external — hoping to erase the internal and reinstall Big Sur — the internal SSD failed to mount. While Disk Utility sees it, it reports the disk as being non-writeable and 100% full. Additionally, Big Sur was updated in the meantime, and I’m getting a “Your Mac needs a critical update and can’t be used until it’s installed” message (which apparently relates to the Touch Bar firmware being out of sync), but trying to install that fails, presumably because the internal SSD is dead or at least unmounted.
That brings us to the present, where I now have a bricked MBP. What to do? I don’t want to sell or recycle it if someone might possibly be able to recover the data, including financial records, business files, etc., etc.