It does work but you have to fix uEnv.txt first. Close to unbelievable but they simply refuse to fix their mistakes. They spend time on trying to improve things, they provide packages, they do NOT test anything, write wrong documentation. Time wasted on the vendor's side just to again waste time on the customer's side since it's not working as expected.
Good news: All you need is a single letter 't': http://forum.banana-pi.org/t/bpi-m3-new-image-bpi-m3-ubuntu-16-04-beta-mate/1440/30