I can confirm this in 20w12a
I don't have the launcher log anymore because the new launcher apparently doesn't save previous launcher logs, but I think I got the reason why: If you blow up a bunch of TNT, save and exit mid-explosion, and then come back later, loading the explosions overloads the RAM. To stop this from happening again, deleting the world was helpful. Please try that and see if you can replicate it.
No, that is a really old version of Minecraft, and my issue is that Java crashes ~10 minutes after Minecraft says that world loading is complete, not when the game is loading. Also, I think it is because there is something wrong with either the RAM or the Mojang-side server when I was testing this.
This is not a bug, Mojang intentionally made the game single-threaded because it only needs one thread to operate fast enough. There are mods that make the game multi-threaded though.