First, try disabling GPU in the preferences (Preformance). Any better? If not, recalibrate and build a new ICC profile, the old one might be corrupted. If you are using software/hardware for this task, be sure the software is set to build a matrix not LUT profile, Version 2 not Version 4 profile.
Yes, it's a defective monitor profile. Using sRGB instead gets around the problem for now, but the proper solution is to use a calibrator to make a new profile.
The purpose of the monitor profile is to be a map of the display's actual and current behavior. The map needs to correspond to the terrain, which is why you should have a profile based on actual measurement. But sRGB is often close enough to the display's native response that it will work for non-critical use.