I’ve had pretty much the same experience and agree with almost all of the points in your take. I have one that I got around launch in 2015, and I would say it was a fantastic machine up until a couple years ago.

I still use mine for web browsing, light gaming on Windows through bootcamp, and practicing development work. For those things it’s fine, but I wouldn’t get one for intense workflows. Like you said - the fans can get really loud, the machine gets pretty hot, and the battery doesn’t last very long. I’ve also had weird issues with Bluetooth syncing and the device not waking up properly from sleep mode.

Personally I’d probably be willing to spend a little more than $100, but definitely no more than $200. It’s a fun machine to tinker with thanks to its flexibility (compared to other MacBooks), but IMO it’s not a great daily driver these days. The M1 MacBooks and beyond will probably be a much more enjoyable experience.

The M2 Pro can also support more external displays if that is a deciding factor for you