Hello @Kiendeleo,
The red light on is standard for mainline and armbian edge images, they have a different device tree configuration (Hint, perhaps a change there may signal there is sufficient progress with edge images). The display engine etc is not patched into mainline or armbian edge, do not expect HDMI output.
Wifi patches again, not there, and will not work atm.
Not entirely sure of V1.5 hardware changes, haven't looked , and if that will effect development going forward, (maybe something is fixed!).
Perhaps for what you expect/need working, consider the legacy images.
The build system has been updated from AR1396...
Good luck.