Isn't the only EV F-150 the Lightning? The Lightning has always been the sports model, so I can't imagine it ever made sense economically as a work truck.
They reused the name much like they used the Mustang name for their electric SUV. Past Lightnings were single trim level performance trucks. The current Lightning mirrors the regular F150 trim levels but with an electric drivetrain.
It's a little more complicated. The Lightning has always been about performance, and that includes the EV. It'll demolish every other F150 (and most other regular cars for that matter) that doesn't say "Raptor R" on the side.
