I can vouch that this is occuring.
For me at least, it seems to occur most often when changing the render distance from something smaller to something larger (from 3 to 6 or so).
It makes the game completely unplayable.
^Funnily enough, neither can I.
Everything seems to be in order all of a sudden, so I have no clue what was happening before.
Rendering 3 more worlds and none of them have any issue (barring the occasional "tesselating block model".
Nevermind, it seems to occur at random (though most often it is triggered when changing render distance from tiny to something larger.)