you do only have to have 3 up for making a backup, UNLESS it is bricked. Then you need switch 1 up for flash fun mode to keep the ps3 on while you dump or reflash.
like playerkp420 said, you can more than likely fix this console. Do what he said. I have fixed multiple consoles like the before. I have purposely bricked consoles to fix them, and they are all working today. Let me know if you need some help.