Demystifier said:
The Penrose diagram in Fig. 5 of this paper is very interesting. What it is saying is, if you include evaporation in your model as well as formation,
there is no true black hole any more. That is, there is
no region of spacetime that cannot send light signals to future null infinity, and thus no event horizon (which would be the boundary of such a region).
Another way of putting this is that this paper gives a "semi-classical" model of how gravitational collapse would work in the presence of quantum fields that, when "compressed" enough, can violate energy conditions (and we already know quantum fields can do that) and thereby evade the conclusions of the singularity theorems and have regions of spacetime containing trapped surfaces without having a singularity. It also neatly avoids the issues involved with the inner (Cauchy) horizon in the non-evaporating case (illustrated in Fig. 1 of this paper, which matches the description I gave in post #56).
As the paper notes (p. 4, second paragraph in right column), this thing still looks like a black hole to outside observers, since stuff falls into it and doesn't come out for a time comparable to the Hawking radiation time (something like ##10^{70}## years for a mass of 10 solar masses), and the light from infalling objects gets redshifted by unbounded amounts as the objects approach the outer trapping horizon (which "looks like" an event horizon for a very long time, even though, considering the full spacetime, it isn't).
A key question that this paper doesn't mention is what a merger of two of these things would look like in terms of gravitational wave emission. Would it look similar enough to the waveforms LIGO has detected?