Ok, it looks like it fails at loading icon.gif. If I change it to a png file, love2d proceeds further. I guess our SDL_image2 doesn't support gif (On a side note - using gifs for a game is a bad idea!).
I checked the rootfs config and build logs and GIF support in SDL2_image is enabled. It also works with the "showimage" example program.
Edit: The "love" executable isn't linked to SDL2_image at all. Instead, it directly links to libjpeg and libpng, but not to any GIF decoding library. And there doesn't seem to be any GIF support in the source tree either, neither built in nor using an external library. So it looks like this version of L?ve doesn't have GIF support at all, no matter how you build it.
Plus there are resolution issues - our SDL2 supports only 320x240 mode, while the game attempts to run at a higher resolution:
This doesn't have to be a problem: if the application creates a fullscreen window while passing 0 as the width and height, it gets the native resolution of the screen (320x240 in our case). Then the following call can be used to draw to it like it's 640x480 or any other resolution you desire:
SDL_RenderSetLogicalSize(sdlRenderer, 640, 480);
I don't know how this is mapped through L?ve though: whether it is something that should be changed in the L?ve runtime or in the game.