I just finished reconstructing this. However, after some testing I only get it to work when I leave D8 physically disconnected. The Levelshifter seems to send HIGH as soon as the PCB receives power and causes the booting ESP to head straight into Programming mode. Console says: "waiting for host", and that's forever.
Bootloader Modes
The bootloader can go into a number of modes depending on the state of GPIOs 0, 2 and 15. The two useful modes are the UART download mode (for flashing new firmware) and the flash startup mode (which boots from flash).
GPIO0(D3) | GPIO2(D4) | GPIO15(D8)
UART Download Mode (Programming) 0 1 0
Flash Startup (Normal) 1 1 0
SD-Card Boot 0 0 1
Apparently it seems not to happen using a D1-Mini-Pro (I have none at hand to verify) However on regular D1-Mini (exactly the one you liked to) others also have run into similar problems and reproduced the issue:
https://forum.fhem.de/index.php?topic=71059.0