but on the PCB it is labeled as an 'MOV' where capacitors are usually marked as C,
that's correct and that tells you the difference
and it has a strange diagramatic marking on the board that looks a bit like -NN-, so it piqued my interest...
basically it's telling you that it is like a pair of face to face diodes
Anyway - not really understanding what it does,
it's a surge/spike protector
They have a breakdown voltage when they will go short circuit and cause the mains fuse in the power supply to pop
in your case I see the fuse isn't there, rather it's position is linked out ... one then hopes that the building mains circuit breaker,
that that device is on, trips.
If it is the only part in the PSU board that fails, removing the blown MOV will allow the PSU to fire up ....
just keep in mind there is no longer any protection for the PSU
Dave