Posted this to the packages section (per the bug reporting process) as a bug with this thread linked to the bug report. A link to the report I posted about the is here:
viewtopic.php?f=15&t=14992
As others have seen today this is likely a direct result of updating the following packages:
raspberrypi-bootloader-20201214-1
raspberrypi-bootloader-x-20201214-1
raspberrypi-firmware-20201214-1
As the Pi 1, 2, 3, and Zero do not have updatable firmware, all of the firmware and boot images are included in the boot filesystem on the SD card and read when the device is powered on so it should not be that users are missing an important pre-requisite step prior to updating and rebooting, the update itself is likely causing the broken behavior.