Found by openQA, locally reproduced.

To reproduce, download the Live ISO
https://openqa.opensuse.org/tests/172248/asset/iso/openSUSE-Tumbleweed-GNOME-Live-x86_64-Snapshot20160422-Media.iso

then use qemu:

Create a new DISK image (blank)
> qemu-img create disk -f qcow2 10G
Start QEMU (point to right paths for the CD and DISK image!)
> qemu-kvm -hda disk -cdrom openSUSE-Tumbleweed-GNOME-Live-x86_64-Snapshot20160422-Media.iso -m 2048

Perform a normal installation (all next, next, install)

The resulting system will fail to boot.

The first diagnostics done on my local test case show that /boot/initrd is a
dangling symlink; no initrd was apparently created.