Welcome to the club! I received my lemon in the same condition! It did make fan noise, but no other signs of life.
Hopefully you have better luck than me, @echeck…
I received my second order today, 2020-09-22, in horrendous condition from UPS:
View attachment 957770
Once I opened this travesty up, there were holes through to the inside of the retail packaging, water damage all along that edge, and a handful of sand and small stones. There were loose stones found inside the computer and the black foam (below the styrofoam supports) was still damp.
Incredibly, this unit turned on and hasn’t blown up yet. I’ve recorded the 5700 XT flashing white line glitch, it appeared multiple times before the setup assistant was done.
There is no way I’m keeping this unit, the box damage alone is unacceptable, and it will hinder safely transporting the computer and eventually my resale ability. Of course a mitt-full of gravel and a half-cup of water could have made it’s way in to the vents and I’m having no part of that.
I’m frustrated at this point! I guess I will order the next unit and try to receive it before I return this one, I’m tired of not having an iMac. Don’t be eager to sell your current machine, folks!