kernel panic, failed to execute /init error 2

[Aren Jared via arch-general <arch-general@xxxxxxxxxxxxx>]

Hi everyone,

My system won't boot.

The forum thread is:
https://bbs.archlinux.org/viewtopic.php?id=236017

What I tried so far:
- Reinstall boot partition
- Reinstall mkinitcpio, systemd, kernels

pacman log:
https://paste.ubuntu.com/p/ypzDhhnc8P/

initramfs file is accessible:
 https://paste.ubuntu.com/p/grC4Qq2xxN/

Ideas?