Jeff,
I suspect it is the master cylinder that has failed. There are plungers in the MC that can fail and allow fluid to bypass them. I believe there is an adjustment on the push rod, but you didn't remove the MC, so that shouldn't be an issue.
That leaves the master cylinder. If there are no leaks, the rubber brake hoses at the front calipers aren't expanding, and the fluid level in the MC doesn't go down, the master cylinder is my first suspect.
I attached information related to the push-rod adjustment and clearance. Take a look below. However, unless you had things apart, I don't feel this is the issue.
Let me know.
Joe
See pics below.
Images (Click to make bigger)
Friday, August 11th, 2023 AT 9:29 PM