World Aligned Texture based material flickering only on Quest 1

Hi Everyone,

I have a very weird issue on Quest 1 with a World Aligned Texture based material.

When I view the mesh on Quest 1 the world aligned texture on it rapidly moves back and forth and sometimes loses stereoscopic rendering. Ticking full precision doesn't help. This doesn't happen on Quest 2.

Video: https://youtu.be/PLJ-m8--vNo

Any idea what could cause this?

This is the material: