"decrypting KeyVault at address 0x4000 of size 0x4000
keyvault decrypt failed, discarding
"
Meaning it's been messed with beforehand.
"SMC decrypted OK, will use if no external smc.bin is provided
seeking smc config in dump...found at offset 0xf7c000! Using if no smc config is provided."
"------ Encrypting and finalizing bootloaders ------
SMC checksum: 1d0c613e
known clean SMC found, type: Falcon v3.1(1.06)
clean smc.bin found!
done!"
SMC is good, which means it should boot once written back.
So have you got any output of you writing retail_image.bin to your console?