I lied.
Ok. I finally see the light. I bisected the issue down to
eea08f32adb3f97553d49a4f79a119833036000a : timers: Logic to move non
pinned timers
Disabling timer migration like provided in the earlier commit stops the issue
from occuring.
That it is related to timers is sensible in the light of my findings, that I
could trigger the issue only when using delay in netem - that is the codepath
using qdisc_watchdog...
Andres
Repasted original problem description for newly CC'ed people:
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