New Home Assistant Yellow..two yellow led blinks

I received my Home Assistant Yellow yesterday; after plugging in the power supply and the ethernet cable to my AT&T fiber router, it blinks twice cyclically. I can see and ping the IP address, but it never boots up.

What I suppose I need to do is to follow the procedure to create a USB drive to update the OS; while i am at it though I should put a NMVe M.2 SSD on board before I do that.

Does that sound right?