I have reproduced this problem on a second host. I still don't know the cause yet. I don't have a lot of time to play with this right now.
FYI, this is what is printed on the console during bootup, just before it drops into the busybox shell:
modprobe: module dm-raid45 not found in modules.dep mdadm: No devices listed in conf file were found. -- To UNSUBSCRIBE, email to debian-bugs-rc-requ...@lists.debian.org with a subject of "unsubscribe". Trouble? Contact listmas...@lists.debian.org