You could speed up the initialization and simplify the code by using the the Parallel class (.NET 4 and newer):
public static void PopulateByteArray(byte[] byteArray, byte value)
{
Parallel.For(0, byteArray.Length, i => byteArray[i] = value);
}
Of course you can create the array at the same time:
public static byte[] CreateSpecialByteArray(int length, byte value)
{
var byteArray = new byte[length];
Parallel.For(0, length, i => byteArray[i] = value);
return byteArray;
}