Problem appeared when I upgraded to 6.18.10-402.asahi.fc42 last week.
Edit: still happens with 6.18.15-400
I manage to boot only once out of 4 to 6 attempts: boot hangs after systemd-fsck-root then watchdog reboot.
Seems timing related : message in the console varies with the last being either apple_aop (most often), or apple-admac, or apple-display-crossbar.
I can boot 6.17.12-400.asahi.fc42 fine.
Sample boot screenshot

asahi-diagnose for 6.17.12-400
asahi-diagnose-20260308-162337.txt
More boot screenshots : boot-screenshots.zip