Well either the temp gauge or sender is bad or the T-stat is stuck open.
What does the heater temp feel like, too cold, so gauge is right?
The t-stat is the only low temp control in the system so it either maintains the min 200deg or its broken.
Fan can't do anything about low temp on the engine, it only provides more cooling after engine gets above operating temp.
Radiator has no circulation until t-stat opens so.....it can't change temp until that happens.
I have found that "new" no longer means "it works"
"new" now means "never tested", lol.
If t-stat is new then it looks like it worked once, it opened, now it is stuck that way.
Cold engine, remove rad cap, start engine.
If you see circulation then t-stat is open, and it shouldn't be.
And there is a chance that you ended up with a 160deg t-stat by mistake, it happens, wrong spring installed and it's opening to soon.