I see nothing obviously wrong either but that doesn't mean there isn't damage to a trace or cold solder joint somewhere. I'd start by replacing the capacitors one by one with something of higher quality than what Console5 offers.

No guarantee this will fix the problem and quite honestly I don't think it will but it will extend the life of the rest of the console enough to make it worth your while. Only other thing to do would be to grab a logic analyzer and oscilloscope and start probing around to see if the CD side of things even has any life.

As soon as it boots up without a cart the BIOS is supposed to be loaded in a similar fashion to a cartridge and if the BIOS was freezing I'd have other suspicions but given it doesn't even load it is likely to be a failed part or a broken trace.