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OK, I am fairly confident to say that if kdump is working that is not much to worry about for kexec -l case since you'll need to get your command-line option right and avoid limitation that kdump is set up to solve.
As far as I am aware that there is no REAL use case for kexec -l from our customers and partners. Even if you found a corner case that kexec by panic is working but kexec by directly loading is not working, this is likely to be low priority that unlikely to be hit by our customers and partners.
So, if it is working, that is great. Otherwise, let's take a few more minutes to reboot or use virt guests to test new kernels. That is likely a more quick solution to fix kexec -l alone.
Therefore, I am going to close this as NOTABUG.