The flashing question mark means that your Mac can't find a bootable system.
Could be a small glitch, or maybe a missing or corrupted boot file.
If you are trying to "bypass the internal hard drive" by booting to the recovery system (Command + R), and that's when you get the error screen, then that is more likely that the hard drive has failed (the Recovery System is another partition on the same hard drive, so if neither boots, then that is NOT a good sign)
You can remove the hard drive from one of those old Macbooks in less than 2 minutes.
I have replaced the hard drive (my Early 2008 MacBook is identical to yours), with a cheap SSD. What a difference, even with the old MacBook.
Do you have anything on the old hard drive that is important/not replaceable?
Take your old hard drive, place it in an external dock/enclosure, where you can try to retrieve any important files.