An other case: get the same issue via a netboot install ( lp:1736880 ) 
I get a 'Wired unmanaged" into dropdown menu

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https://bugs.launchpad.net/bugs/1728181

Title:
  systemd-networkd-wait-online waits when devices are unmanaged

Status in systemd package in Ubuntu:
  Confirmed

Bug description:
  I started a system with cloud-init disabled, etc. and a single real
  network interface (ens3) that could be configured.

  That VM has no configuration whatsoever for systemd-networkd, as that
  would have to have been written by netplan, and cloud-init did not
  generate netplan config (because it was disabled).

  So:

  root@ubuntu:/etc/systemd/system/network-online.target.wants# ip route
  d-networkd-wait-online --ignore=lo
  ignoring: lo
  Event loop failed: Connection timed out
  root@ubuntu:/etc/systemd/system/network-online.target.wants# ip route
  root@ubuntu:/etc/systemd/system/network-online.target.wants# networkctl
  IDX LINK             TYPE               OPERATIONAL SETUP     
    1 lo               loopback           carrier     unmanaged 
    2 ens3             ether              off         unmanaged 
    3 sit0             sit                off         unmanaged 

  3 links listed.
  root@ubuntu:/etc/systemd/system/network-online.target.wants# 

  
  The system took 120 seconds to complete boot, because wait-online had to 
finish; and running wait-online from the system afterwards also waits 120 
seconds (its default timeout). If there is no configuration for an interface, 
it's unmanaged (as shown by networkctl), so wait-online should not wait, and 
simply report that all interfaces are unmanaged, possibly returning an error so 
we don't reach network-online.

  FWIW, having wait-online look up configuration might later be useful
  also to figure out if an interface was configured, but marked as
  optional (such that it is explicitly not required to be up at boot),
  or if we want to configure network devices but specify that networkd
  should *not* bring them online (like "administratively disabled"
  interfaces in Cisco world using the "shutdown" command).

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