Loud "pop" noise as if
The reset button is actually a circuit breaker in miniature but there may be a thermal fuse to protect against fire in case of failure of the circuit breaker.
If you are game, open the housing again and look for a device you don't recognize that is in series (in line) with a wire; it may be in an insulating sleeve and not immediately visible, appearing only as a thickening of the wire.
This could be a thermal fuse.
They are not supposed to open under load but only when the temperature exceeds a limit and these do not reset.
Unfortunately, these are now all coming from China and are not very reliable so may open even when the design temperature is not exceeded.
If concealed, you would need a simple multimeter to determine if it had 'opened' by checking for the continuity of the wire stretch.
Blenders in general are 'universal' motors which can use AC or DC and this type employs carbon brushes which do abrade with time and when they have become too short, they can become intermittent and cause such a popping sound too.
Brushes are replaceable so you might check Waring's website to see if they offer a fixed-price replacement or brushes as replacement parts.
I would be prone to see the Waring restored since most replacement blenders are from China and have often more than just one problem even when new.
One given to us as a present smoked while crushing ice so we retrieved our old Oster from its stash and tossed the oriental wonder.
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