That's a good guess! Checked eBay and iCloud locked M2 MacBooks Air go for around $400.
Swapping the logic board can also cause this issue. Additionally Touch ID is paired to the logic board so if you change one without the other that won’t work anymore.
Not sure if there are other paired parts or limitations like that, I’ve only done 2 of the lcd repairs and have only read about the Touch ID pairing (which isn’t a surprise)