Comment # 8 on bug 1095700 from Takashi Iwai

setterm should work if it's invoked properly, I guess.

Since you could run setterm properly on the actual VT, it must be the problem
of the command invocation from the unit file at the boot time.  That is, it's
not really a kernel problem.

I guess you could get a better answer by asking other parties like systemd
guys.
Or maybe util-linux maintainer has a better clue.  Stanislav?