Even if the CPU is not running and/or there are no/bad program ROMs, you should see something on the screen - random characters like this:
Also when you power it up, it should make a sound like the jump sound - also even if the CPU isn't running.
To check if the CPU is running even with no image, try inserting a coin and pressing start to check if it plays the sounds of gameplay.
Looks like monitor issues but it could be other issues in addition to that. The monitor probably needs a cap job if it looks like it's not filling the viewing area uniformly and/or the beam is out of focus.
There are adjustments in the back of the monitor. You might be able to adjust the red/green/blue levels and see if there's some sort of image. Also on the monitor's flyback (big plastic thing with two plastic screw/adjustments) there are two adjustments for 'focus' and 'intensity?'... that might help focus the beam and turn down the blue. But if the capacitors are bad it's probably not able to be compensated for - and there are high voltages there.. and if the flyback transformer is going it might also start making buzzing noises and emitting blue sparks. It can be replaced if that happens, but seeing little lightning bolts coming off of it might be a little intimidating, also very zappy.