Code key bypass?

[Junkfood]

When I got my 2000 XLT it had a push button starter, turn to "run" and push the button. I have no idea why it's like that or what to look for to fix it right. I do have the flashing theft light if that's any help.

I tried the on/off 8 times in 10 seconds and it did nothing so not sure if it has the code key setup and it's bypassed or not.

Any idea? My old 85 F150 doesn't have any of this stuff and I've never dealt with it before so not sure where to start looking, or what to start checking.