Poor display performance when zoomed in pointclouds

It seems that this issue appeared fairly recently.
Zoomed out is fine, as soon as you zoom into to the size of 4’x4’ it starts lagging horribly.

You don’t even need to have a single point visible on the screen. Something happens at the high/low? zoom level.

Really something screwy is going on when zoomed in.

FPS drops to 0.3/sec. Any large pointcloud file.