`Kernel panic - not syncing: No working init found.`

No repository file, test, or entry point is named. Start by examining the reported boot log and hardware details, then determine whether the failure is reproducible with the stated ISO and USB setup. Done requires a confirmed cause and a documented or implemented project-level resolution.

What Happened?

When attempting to boot off my 16GB USB drive on a (presumably) 2009 Gateway laptop originally running Windows Vista, I am presented with this screen:

Steps to Reproduce

1. Downloaded elementary OS from https://elementary.io using magnet link and Transmission
2. Flashed 16GB USB drive with downloaded ISO using balenaEtcher
3. Plugged USB drive into Gateway laptop (while shutdown)
4. Turned laptop on
5. Waited for Gateway splash screen and pressed F10 to go to boot menu
6. Selected USB HDD: Lexar USB Flash Drive
7. Pressed Enter

Expected Behavior

Expected to see (pardon my naivety) a bunch of text scrolling faster than I can read any of it followed by a blank screen and then the elementary OS installer.

OS Version

7.x (Horus)

Software Version

Latest release (I have run all updates)

Log Output

(Might not be 100% right, I detected text from the screenshot I attached above and touched it up a bit but I can't guarantee it's completely accurate.)

[   3.221661] Initramfs unpacking failed: write error
[   3.444573] Failed to execute /init (error -2)
[   3.444927] Kernel panic - not syncing: No working init found. Try passing init= option to kernel. See Linux Docunentation/admin-guide/init.rst for guidance.
[   3.444981] CPU: 0 PID: 1 Comm: swapper/0 Not tainted 6.2.0-33-generic #33~22.04.1-Ubuntu
[   3.445026] Hardware name: Cateway                     MT6451                          /, BIOS 84.05    11/01/2006
[   3.445073] Call Trace:
[   3.445114]  <TASK>
[   3.445156]  dump_stack_lvl+0x48/0x70
[   3.445204]  dump_stack+0x10/0x20
[   3.445244]  panic+0x35a/0x3a0
[   3.445289]  ? kernel_execve+0x164/0x1c0
[   3.445332]  kernel_init+0x1a0/0x200
[   3.445376]  ? __pfx_kernel_init+0x10/0x10
[   3.445420]  ret_fron_fork+0x2c/0x50
[   3.445464]  </TASK>
[   3.445516] Kernel Offset: 0x38000000 from Oxffffffff81000000 (relocation ran ge: Oxffffffff80000000-0xffffffffbfffffff)
[   3.445565] ---[ end Kernel panic - not syncing: No working init found. Try passing init= option to kernel. See Linux Documentation/admin-guide/init.rst for guidance. ]---

Hardware Info

The laptop I'm working with was given to me by a friend. I don't know everything about it but here's what I've learned from looking in the BIOS:

BIOS: PheonixBIOS v84.05

IDE 0 Master: ST9120824A-(PM)
IDE 0 Slaver: Optiarc DVD RW AD-7530A-(PS)

CPU Type: AMD Turion 64 X2 Mobile Technology TL-50
CPU Speed: 1600 MHz
Cache Ram: 512 KB

Total Memory: 1024 MB
Slot1/Slot2 Memory: 512 MB
Video Memory: 128 MB