Re^3: Does s/\Q$find\E/$replace/g really a plain string replace ?

At the same time you were writting that, I was writting my own /g! Mine doesn't have an infinite loop like yours does, however. Try yours with:

$_       = 'foo bah bar';
$find    = 'bah';
$replace = '[bah]';

first  time in loop: foo [bah] bar
second time in loop: foo [[bah]] bar
third  time in loop: foo [[[bah]]] bar
...
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