What I tried to explain is that jumping the power switch connections on the motherboard and leaving the jumper on makes a computer act the same way... so I thought the PSU had suffered the damage but if not, then the motherboad probably did, though I don't understand how that could happen because the top aluminum(!) plate of the CPU heatsink is isolated from the CPU internal circuits, or motherboard circuits. If it is to dissipate heat, it's not supposed to make contact but with the insulated CPU heatshield and nothing else.
But now that I think of it, the power discharge may have backed up to the PSU and found a way to overload something on the motherboard through the 24 pin connector, or even the CPU may have been affected through the 4/8 wire connector.
Another possibility is that the power switch may have been fused internally in the ON position, it's not so likely but you have to discard it. To test this last possibility, what I'd suggest is you try the following: Remove the Power Switch two wire connector from the motherboard front panel header pins, and with a small screwdriver or paper clip, momentarily touch the two pins on the motherboard header... the computer should start and if it stays on, the power switch was fused... if the same reboot cycle continues, then the motherboard was probably damaged... CPU damage is also possible but it's tougher and the motherboard has more sensitive components.