Anything other than UV by plane results in this trash. What the heck is going on here? This image is from the auto-unwrap bonus tool, but automatic UVs result in even worse distortion.
I have something like this from time to time. Figured it's the issue with the Checker shader (built-in checker texture you're using) and not the UVs. So, when you see this - most likely your UVs are fine. You may want to use a regular checker texture as a workaround in such cases.
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