This is the current view, the botrtom part is stretched:
Here is my material:
Hey TobiasRipper,
This effect is directly related to your Blendable material set up. It is behaving as expected. The blendable is essentially an overlay of a material, which in this case, is distorting the images on your screen.
I recreated your blendable material and was getting the expected results relative to the materials set up.
Thank you,