With an ethernet cable connected, I still get the same results.
But to my surprise, when I install Max2Play on an old 8GB Hama 4x MicroSD it boots without problems (albeight slowly). No luck, however, with a brand new 32GB Samsung EVO Plus.
Dunno. Maybe some weird timing glitch, where one process is supposed to wait for another, but when the card loads too quickly, those ends never meet?