Very strange indeed. Yes to all your questions / assumptions.
I tried F2 as well. I even tried a different PSU. The MB is fed via ALL the power connectors including PEG and the video cards too (the RX one has 8+6, the GTXs have 6+6).
I can't see BIOS and OC via AMD or Nvidia GPU regardless of the choice. Let's see what Gigabyte come back with. There may be something conflicting with the PCIe slots at boot time.
And I don't have an M2 drive in yet, I built the rig using a spare SATA SSD.
My board is Rev 1.1, not sure if that makes a difference. What is yours?