panic! Simplifier ticks exhausted

Compiling the following with -O2 causes a panic.

module GHCPanic where

data IValue = IDefault
            | IInt Int
            | IBlob String
            
(?) :: Applicative m => (IValue -> m a) -> IValue -> m (Maybe a)
(?) _ IDefault = pure Nothing
(?) p x = Just <$> p x

getInt :: IValue -> Either () Int
getInt (IInt i) = Right i
getInt v = Left ()

getString :: IValue -> Either () String
getString (IBlob b) = Right $ b
getString v = Left ()

(<+>) :: Applicative m => (m (a -> b), [IValue]) -> (IValue -> m a) -> (m b, [IValue])
(<+>) (f, (v:vs)) p = (f <*> (p v), vs)

data TestStructure = TestStructure
    { _param1 :: Int
    , _param2 :: Maybe String
    , _param3 :: Maybe Int
    , _param4 :: Maybe String
    , _param5 :: Maybe Int
    , _param6 :: Maybe Int
    , _param7 :: Maybe String
    , _param8 :: Maybe String
    , _param9 :: Maybe Int
    , _param10 :: Maybe Int
    , _param11 :: Maybe String
    , _param12 :: Maybe String
    , _param13 :: Maybe Int
    , _param14 :: Maybe Int
    , _param15 :: Maybe String
    }
    
getMenuItem :: [IValue] -> Either () TestStructure
getMenuItem vs = fst $ (pure TestStructure, vs)
             <+> getInt
             <+> (getString ?)
             <+> (getInt ?)
             <+> (getString ?)
             <+> (getInt ?)
             <+> (getInt ?)
             <+> (getString ?)
             <+> (getString ?)
             <+> (getInt ?)
             <+> (getInt ?)
             <+> (getString ?)
             <+> (getString ?)
             <+> (getInt ?)
             <+> (getInt ?)
             <+> (getString ?)

ghc.exe: panic! (the 'impossible' happened)
  (GHC version 8.2.2 for x86_64-unknown-mingw32):
        Simplifier ticks exhausted
  When trying UnfoldingDone $j_s1y9
  To increase the limit, use -fsimpl-tick-factor=N (default 100)
  If you need to do this, let GHC HQ know, and what factor you needed
  To see detailed counts use -ddump-simpl-stats
  Total ticks: 71323
  Call stack:
      CallStack (from HasCallStack):
        prettyCurrentCallStack, called at compiler\utils\Outputable.hs:1133:58 in ghc:Outputable
        callStackDoc, called at compiler\utils\Outputable.hs:1137:37 in ghc:Outputable
        pprPanic, called at compiler\simplCore\SimplMonad.hs:199:31 in ghc:SimplMonad

This seems similar to #8319 (closed) which was marked as being fixed.

It compiles (albeit very very slowly!) if I remove the last parameter and the last application of (<+>).

Trac metadata

Trac field	Value
Version	8.2.2
Type	Bug
TypeOfFailure	OtherFailure
Priority	normal
Resolution	Unresolved
Component	Compiler
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