Without these options
- CONFIG_LIBCPIO=y
- CONFIG_LIBINITRAMFS=y
- CONFIG_LIBDEVFS_AUTOMOUNT=y
- CONFIG_LIBVFSCORE_AUTOMOUNT_ROOTFS=y
- CONFIG_LIBVFSCORE_ROOTFS_RAMFS=y
images seem to be improperly laid out and fail to boot. This is probably a linker script bug.
Workaround for now: enable them and you should be fine.