what firmware did you flash? Pls let me know and I want to check if it is wrong fimware.

About uboot web failsafe mode, seems what you are doing is correct. But I need to make sure you did everything correct. There are several things easy to mess up:

  1. Need to plug in Eth cable before powering up.
  2. Keep the reset button pressed. One LED will flash once per second and wait until another LED light up.
  3. In your updated post, you didn’t state that you changed the IP of your PC to 192.168.1.2. Pls make sure.

If possible, make a video.