Since they offer the EDU discount they might as well offer a blanket “it boots get $100 off” deal for returned machines.
Though the cost of responsibly recycle and dispose of an old computer might make the $0 offer actually a decent one.
If they’re recycling it, what does it matter if it boots? The aluminum is worth nothing? I’m sure there’s bits of gold and other things.
They already do that in the UK https://www.apple.com/uk/shop/trade-in
Google do similar, as do most electronics retailers.
Is that not not a thing in the US? Perhaps it ought to be.