Bluetoothd is started from init.rc, but fails. And when you try to start it manually with bluetoothd -n -d you get the following:
bluetoothd[2391]: Bluetooth deamon 4.93
bluetoothd[2391]: Parsing /etc/bluetooth/main.conf failed: No such file or directory (I have an older working build with same error but still works)
bluetoothd[2391]: Starting SDP server
bluetoothd[2391]: opening L2CAP socket: Operation not permitted
bluetoothd[2391]: Server initialization failed
bluetoothd[2391]: external/bluetooth/bluez/src/plugin.c:plugin_init() Loading builtin plugins
bluetoothd[2391]: external/bluetooth/bluez/src/plugin.c:add_plugin() Loading hciops plugin
bluetoothd[2391]: external/bluetooth/bluez/src/plugin.c:plugin_init() Loading plugins /system/lib/bluez-plugin
bluetoothd[2391]: external/bluetooth/bluez/src/plugin.c:add_plugin() Loading input plugin
bluetoothd[2391]: external/bluetooth/bluez/src/plugin.c:add_plugin() Loading health plugin
bluetoothd[2391]: external/bluetooth/bluez/src/plugin.c:add_plugin() Loading network plugin
bluetoothd[2391]: external/bluetooth/bluez/src/plugin.c:add_plugin() Loading audio plugin
bluetoothd[2391]: Failed to open control socket: Operation not permitted (1)
bluetoothd[2391]: Can't init bnep module
bluetoothd[2391]: Failed to init network plugin
bluetoothd[2391]: external/bluetooth/bluez/plugins/hciops.c:hciops_init()
bluetoothd[2391]: external/bluetooth/bluez/plugins/hciops.c:hciops_setup()
bluetoothd[2391]: Can't open HCI socket: Operation not permitted (1)
bluetoothd[2391]: adapter_ops_setup failed
This is a lot of information on this L2CAP socket error and permissions with rfkill0, but I don't know where to begin to fix this.