Are you capable to connect by debugger? JTAG_ID you should be able to read even in case device is reset.
In the MPC5746R Hardware Design Guide, I have found following sentence:
"In a POR event RSTOUT is internally pull-up then actively drives low during reset PHASE3 and drives high at the end of reset PHASE3."
So it could be possibly correct.
If you lengthen time base of the scope, don't you see some RESET pulses? That is because it should be offline BIST at the beginning, it takes tens or hundreds of miliseconds, and during this time RESET is asserted.
If you see 15 RESET pulses, then the issue could be reset escalation - I would give you some other instruction what to do. Currently I am out of other ideas.