It appears Monterey 12.0.1 has been installed but during startup recurring kernel panics prevent startup so it never starts up. Computer is for all intents and purposes, bricked.
iMac 21.5″ 4K, macOS 12.0
Try booting in Safe Mode:
https://support.apple.com/en-us/HT201262
You may have some security software or something else using a kernel extension or system extension that is causing the kernel panic. These extensions have unrestricted access to the kernel at runtime. If the software is not compatible with Monterey it will crash the operating system. The extensions load at boot. Safe Mode should load without the extensions and other things. It's a minimal boot mode.
You will need to either upgrade the software that is causing the crash or you will need to remove it. Another source of problems is malware which may use extensions, etc.
I had to upgrade some software using a beta version from a vendor in order to be compatible with Monterey. Upgrading the very first day can be risky unless you have a super plain vanilla installation without any software dependencies adding risks. In these scenarios you need to make sure all that software is compatible with Monterey.
Good luck with that. Let us know if you have success.
This doesn't sound like the same problem. The original post was about kernel panic at every boot never fully loading the operating system. However, you should certainly report this problem to Apple and the proper way to get this bug reported to the developers is to use the Apple Feedback Assistant.
https://feedbackassistant.apple.com
You should submit as much detail as possible, including the logs and the kernel dumps and the steps you took to recreate the problem. It's a bug that needs fixing.
Monterey update kernel panic
