BIOS passwords are indeed a complete joke as means to secure access. There are a bunch of vendors out there who moved the authentication off from the BIOS/CPU to the KBC (keyboard controller) - Toshiba and Lenovo are among them. Still, it's ludicrously easy to circumvent these.
[0] https://dogber1.blogspot.com/2009/05/table-of-reverse-engine...
For newer ThinkPads, there is a method to replace the LenovoTranslateService EFI module with a modified version that passes control to another module, which in turn removes the password. This is supposed to be a paid solution (the module will ask for a code that has to be purchased) but apparently there is a "workaround" for that too.
I might not be up to date as I had no need for any of these and my most recent ThinkPad is an X220 but it's safe to say there is always going to be some solution without having to resort to motherboard replacement.
Works for straightforward ones like most Lenovo, but not for weirdos like Toshiba. Sometimes I see lots of Toshiba office laptops with locked BIOS waiting to be recycled as the result.