Ok, my bad - I didn’t look up this forum well enough - SPOILER ALERT: this is indeed a SIM failure
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This issue was investigated in depth in another long thread: [SOLVED] Electron high frequency flashing in cyan
Bravo to @reza @jimmies @jobsight @JeffInCO and as always @ScruffR for the leg work they did to investigate this issue.
I read it all, and have all the similar symptoms.
I already filled a support ticket which is of a number 52976 but now I know the cause (faulty SIM, as I suspected), and the solution - replacement program.
What do you think I should do? Wait for somebody on Particle side respond and than show them the similarities to that documented and resolved problem, or file a new ticket? I don’t want to SPAM Particle Support and make two different threads for one seemingly resolved issue.