@easytarget Yes, that's exactly what it is. Which is what I disagree with! :)
No other M5 device I'm aware of defaults to turning off. It's a terrible design decision and one that should exclude the Stick from consideration for anything that needs reliable, temporary battery power from the internal battery. You cannot rely on this thing staying on, regardless of how you interact with the "HOLD" pin.
It works fine under any form of external power. The internal battery is useless.
Which is sad because my use case was that when an external power source failed, it would go to the internal battery and software would notice the decline in voltage and alert. If your reboot took 110ms, instead of the normal 90ms (arbitrary, wrong), you are down.
Just my opinion!
M.