my ps3 died??

kids were in the middle of playing the ps3 first gen backwards combatable
when it just shut off and got blinking red light??

could this mean it's dead for good?? i did find a place near by that does repairs but
they want 75$ to fix it and that's if they can.

Does anyone have any expieriece with the old fat ones...can they permently die??
This one had very little play time and a YYOD fix was done to it per the original owner (not me)
i did go in and re paste the cpu but that didn't help. Still gets the red light.

I just don't want to throw 75$ out the window. Any ideas appreciated.

maybe the way i did the cfw screwed it up.
it had 3.55cfw on it and i went into safe/recovery mode and put on the true blue cfw since
i was using true blue dongle

did i do that right?? or should i have not put the true blue on there since it already had a cfw on it

i ask this cause i'm getting in a slim 3.55 original firmware in and want to put the correct order of firmware on it.
can someone recommend the most current and best firmware to use and do we still need the true blue??
i have an original true blue and wondering if i really need it, i needed it for some of the newer games to work.

in other words can you keep overrighting cfw with newer ones?? i think that would cause an issue???

you will be safe to put tb cfw v2 straight on when you get your slim you still need tb to play some of the latest games i have used this tutorial to easily swap fw. your ps3 phat if it has already had ylod fix each time it is done the chances of it being fixed again are slim unless you have a professional re-ball and there is no guarantee with that your probably safer to save your money and maybe sell it on for parts look on ebay or something at the different parts you will probably get more breaking it down than selling it full.