I see you have syspart on the kernel's cmdline, but not datapart (if that's still used in ubports-boot), if this is still used then that may be the reason why it's not creating your data directories. However system-data should be created by the rootfs (it contains overrides for certain items in directories on the system image like /etc/init/*.override, /var, etc.)
MultiROM doesn't create these folders specifically, that's done by system-image-upgrader during installation of the Ubuntu Touch rootfs. So ensure that you have a valid Ubuntu Touch rootfs on your device, system.img should be in /data and I think ubuntu.img as well (not sure, I mainly use MultiROM with my Nexus 7). Other than that, It looks like your ramdisk is booting and running properly, at least to me. You may wish to remove the breakpoint from the kernel cmdline and get the last_kmsg from recovery instead to get a more full, detailed log including what happens after the ramdisk's execution (which isn't shown in your log as the ramdisk pauses it's init execution for the breakpoint).
I would suggest letting the system sit for about 1 minute before rebooting over to recovery to do this, do note that to see the Ubuntu logs, you MUST start into recovery right after rebooting the system, it MUST NOT attempt to start anything but recovery or you'll find yourself with a different log file (for instance, the recovery image will rewrite the last_kmsg with it's own if it was the last thing to start up before a reboot). So if you can do an
adb reboot recovery, or a
reboot recovery from your ramdisk to boot into recovery, that will help a ton!
To get the last_kmsg from recovery:
- Ensure you boot straight into recovery after rebooting the system from it's boot animation.
- Once the device is in recovery and plugged into the machine, simply type adb pull /proc/last_kmsg.
There you go. This should help since any of us attempting to assist can see the messages from past the ramdisk (your current log only shows the end of the ramdisk startup, but not Ubuntu's startup which is what we want.)
Though those Kernel oops in the log (you can find these with the --- cut here --- style lines) could have something to do with things, but it looks like the only issues are with a crypto driver for the platform not being able to create a sysfs entry (not sure if qcrypto.0 is essential to your platform or not), though I don't have this device myself, so I can't give you an answer there.
EDIT: I also noticed this interesting line in the logs, I'm not sure what it is though
[system] Activated service 'com.canonical.SystemImage' failed: Launcher could not run (out of memory)
This may be why your system isn't starting.