I would point you back to the work of the official Lutheran-Catholic Dialogue documents. They were kind of hopeful. But things change and the hopefulness was kind of smashed flat over time.
But even there the LCMS stands sort of on the outside of those dialogues. The LCMS doesn't necessarily agree on ministry or on ordination with other Lutherans. They seem a bit more prone to agree with Catholics about the Real Presence of Christ in the Eucharist (Maybe) and are to my way of thinking a better ecumenical partner than the ELCA in that they are interested in conserving the faith rather than reinventing it in some woke way. If I had to pick a Lutheran church to attend it would be some kind of LCMS, although I don't know if I could become a member for theological reasons.
(My mother was Augustana Lutheran way way back. Back when they didn't allow smoking or drinking or playing cards or movies.)
It really depends on intent when ordaining and on episcopacy. The LCMS does not seem to have much of an interest in re-attaining a historic episcopacy. If they don't have a historic episcopacy they probably aren't confecting the Eucharist IMHO. If they don't even want a historic episcopacy I would question their intent to have validly ordained priests, and consequently a valid Eucharist.
Of course other parts of Lutheranism want and now have bishops. They have moved more towards the Orthodox and Catholics. But then they have women bishops, moving away from the Orthodox and Catholics. One wonders what their intent is. Other old world parts of Lutheranism have always had bishops, maybe even bishops in apostolic succession. That kind of depends on the intent of the valid bishops in ordaining new bishops over the generations. It's kind of like do they want to be like the Catholics and Orthodox or not. Some Lutherans do, a bit like the high church Anglo-Catholics within Anglicanism. Others don't, a bit like the low church evangelicals within Anglicanism.