Esp01s led not blinking

I can successfully flash some esp01s boards using this config:

platform = espressif8266
board = esp01
framework = arduino

IIUC the board is basically the same as the esp01 - except that it only has a single LED.

Since the blue LED should be available on pin 2, I tried this blink program:

#include "Arduino.h"

#define LED 2

void setup()
  pinMode(LED, OUTPUT);

void loop()
  digitalWrite(LED, HIGH);
  digitalWrite(LED, LOW);

But no matter whether it’s pin 1 or pin 2, the LED refuses to blink.
It does blink during the flashing though.

Could this be a problem with the board definition?

Does it work in the Arduino IDE? Setting the flash mode e.g. is very important and in PlatformIO should be set exactly equal.

Funny enough. So far I could not manage to upload via the Arduino IDE.
There is only the generic profile and it has plentiful options to tweak.