This just happened to me today and it seems Microsoft is to blame...
If you are part of the insider program and this happens to you... they pretty much say "Our fault. Oops sorry". Only way to fix it is via an OS reinstall. Some people have said they tried doing that but because the phone can't boot it just tells them "Device not found". Well I just kept clicking on "Try again" until it did. As absolutely everyone knows, the whole reason why booting takes as long as it does is because it is busy loading the stuff it needs to run the OS... I just assumed that if this fix that Microsoft claims will work is going to work then at some point during this boot loop it must reach a point where the app can do it's thing and for me it didn't even take one full loop before the app picked up my device, installed the Os and took me to the setup screen...
2 hours to download the OS and 5 minutes to install it... still busy setting it up... ughghghg...