It's a good question.
Firstly, I think you already know that the kernel will use data in the DT to identify the specific machine, in case of general use across different platform or hardware, we need it to establish in the early boot so that it has the opportunity to run machine-specific fixups.
Here is some information I digest from linux kernel documents.
In the majority of cases, the machine identity is irrelevant, and the kernel will instead select setup code based on the machine’s core CPU or SoC. On ARM for example, setup_arch() in arch/arm/kernel/setup.c will call setup_machine_fdt() in arch/arm/kernel/devtree.c which searches through the machine_desc table and selects the machine_desc which best matches the device tree data. It determines the best match by looking at the ‘compatible’ property in the root device tree node, and comparing it with the dt_compat list in struct machine_desc (which is defined in arch/arm/include/asm/mach/arch.h if you’re curious).
As for the Linux Initialization, I think there are something we can add in the list.
Put on START button, reset signal trigger
CS:IP fix to the BIOS 0XFFFF0 address
Jump to the start of BIOS
Self-check, start of hardware device like keyboard, real mode IDT & GDT
Load Bootloader like grub2 or syslinux.
Bootloader loads kernel to RAM and starts it (boot.img->core.img).
A20 Open, call setup.s, switch into protected mode
Linux kernel enters head.o, IDT & GDT refresh, decompress_kernel(), starts start_kernel()
INIT_TASK(init_task) create
trap_init()
CPU architecture is found, MMU is started (mmu_init()).
setup_arch() is called, setting CPU up.
Kernel subsystems are loaded.
do_initcalls() is called and modules with *_initcall() and module_init() functions are started.
rest_init() will create process 1 & 2, in other word, /sbin/init (or alike) and kthreadd is run.