That happens to me all the time. My current working theory is when their servers are hammered there is a queueing system that invisible to end-users.
I tested on a previous version (2.1.68) and it still ran into this neverending loop BUT at least the token count kept steadily increasing.
So we are seeing 1. some sort of model degredation is my guess (why it can't break a thinking loop on some problems), as well as 2. a clear drop in thinking token UI transparency.