The only issue is that this MacBook is enrolled in an MDM service. I have bypassed the MDM and now there is no MDM profile installed on it and it is fully functional just like any other MacBook Air purchased from Apple Store directly.
If you would like to factory reset this MacBook, you need to bypass it again. Please google for instructions to bypass MDM. The current MacOS on this MacBook is Monterey 12.6.3 and the online MDM bypass instructions are currently for Monterey only. Thanks for looking.