Mines been dead for a couple months. When it blinks red like that I find simply unplugging it and plugging it back in will allow it to launch.
Mine had this horrrrible sound from the fan in the back, and what seems to have happened is that fan has stopped functioning now so the darn thing overheats almost immediately. I find I can fix that by pointing a fan at the vents, but it's a pain.
This is one reason I feel PC > Console... I could have this issue fixed in five minutes with a $5 fan, but instead I'd now need to ship the damn thing to Japan.
Side note, this is the first Nintendo console I've had a problem with. The only other one was the original Nintendo that I had to replace the pin connector for as they tend to start locking games out in the model 1s, but that took over 20 years to happen.
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