Most web pages are too complex for that browser. It's unchanged since 2009 or so. Security issues are also at play for most sites. It's never been meant to be used for at large browsing.
I'm assuming it's still useful for those WiFi networks you need to sign on to, such as at a hotel, it it's been a long time since I've needed to do that.
There was a thread here at Mobile Read not too long ago about recent changes at Google that may be part of what you're seeing.
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