@Igor I tested the XFCE, CLI and Minimal Bullseye images from https://armbian.com/bananapi-m5 (2022-11-30).
I tried to build myself one from master (current and edge - bullseye/desktop/xfce), same outcome: it shows the Splashscreen and then stops here:
I don't have a USB-to-TTL adapter, so I can't provide more debug informations.
The only images that still boot (reliably!) from the SD card are the ones archived here https://imola.armbian.com/archive/bananapim5/archive/ that still used the Kernel 5.19.16.
The switch to 6.0.x occurred two weeks ago: https://github.com/armbian/build/commit/ce61bd7827d42c63bc1f763dad5c7e4717e1f75b
I tried to checkout the previous commit (20d388b) and to build an image from it, but it failed:
So I can't confirm, but I'm under the impression that all the images since the switch to Kernel 6.0.x don't boot anymore from the SD card.