I am not sure where the interpretation issue lies. If we look at a relation
$$y = b_0 + b_1x_1 + u \tag{1}$$
and we declare that we would like to estimate $b_0$ and $b_1$ but that $x_1$ is "endogenous", we are essentially revealing that we are interested in the partial effect of $x_1$ on $y$ in the relation
$$y = b_0 + b_1x_1 + \delta'\mathbf x{^*} + e \tag{2}$$
where $\mathbf x{^*}$ contains all the (known or unknown to us) variables that are correlated with $x_1$ (and have something to do with $y$ too), and therefore, $e$ is the conditional expectation function error (not just "any" error term), and as such, by construction uncorrelated with all the variables. Alas, $\mathbf x{^*}$ is unobservable or unavailable to us. Valid IV estimation will nevertheless allow us to estimate consistently $b_1$... which is the partial effect of $x_1$ on $y$ in the above relation $(2)$.
Even if we cannot account for endogeneity, the problem will be that our estimations will converge to someplace unknown. So while we will still be attempting to estimate the partial effect of $x_1$ in relation $(2)$, our numerical estimates will be unacceptable and suspect as regards their value (due to the deficiency of the estimation method) -and not because the desired (but unattainable) research target loses its fundamental interpretation. Our estimates will be "wrongly estimated partial effects". It is not the same as saying "they are not partial effects" (epistemologically speaking).