While working on #902 and testing different combinations of options I found out that combination of {mode, prod} + {system_libs, false} produces broken releases that can't be started.
I suppose this is because the script currently assumes that system libraries are located in the same place as the runtime system, and under {mode, prod} this evaluates to the release's libdir where system libraries are obviously missing given {system_libs, false}.
Followup to #902 (comment).