Sorry to hear you're having problems with your 86U, it does sound like there are some issues with it and the 2.4G WiFi channel.
I would first try to find out with 100% certainty that your 2.4G channel is actually dead before starting an RMA or going for a replacement. Login to the router UI and see if you can see the 2.4G channel there, also if you have any other devices that use 2.4G try those if you haven't yet.
What I would do first is reset the router then reinstall the firmware file. You can try the L&LD reset but it's a bit overkill in my opinion since you said you just got the replacement and it's brand new.
After doing that set it up without changing any settings you don't have to, keep it in as default a state as possible. Check the 2.4G channel, if it still doesn't show up try turning off smart connect if you haven't already in the initial setup and reboot the router. Remember to rename the channels so you know which is which.
Wait a minute or 2 after rebooting. If your 2.4G channel doesn't show up in the router UI or it's not being picked up by your devices most likely it is the router hardware that's at fault. Unfortunately you'll have to get a replacement or start an RMA. The other option is to just go with a completely different router if you can but that's up to you.
As for my 86U it's still working great both 2.4G/5G, although I have few devices that use 2.4G as I'm switching mostly over to 5G now. LAN also is working fine, I don't have speed fluctuations anymore like I did on the old 86U (2018 model) and I don't have to reboot every other day like with the old router.