I am not a fan of the broken valve spring theory. B20 engines are noisy; but, I think the noise associated with a dropped valve would be extra, extra noisy and obvious and you definitely would not be running even pressure on all cylinders.
If you have confirmed you have spark and it is static timed to slightly before TDC, it should start if it was getting fuel. My opinion (and that is all it is) is continue focusing on your fuel non delivery problem.
As suggested, the starting fluid is a test that might confirm that the spark is working and that your problem is fuel delivery. However, be careful with that stuff. Aside from its super volatility, if you spray too much into the intake plenum it does an excellent job of washing oil off the cylinder walls. Also, if you live where the temperature doesn't drop below -20 C in the winter, you probably won't find any starting fluid for sale.
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