DRAM refresh is pretty wild 
pic.twitter.com/7S00bsiy41
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that seems unlikely imo. when it changes text it rewrites the buffer clean, then it randomly flips bits over time. hence guessing dram fail
Neither of those theories sounds right. You wouldn't normally continuously refresh such an LCD (looks like HD44780) likely issue is in LCD..
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... but it can't be failed DRAM refresh in the HD44780 because the LCD constantly scans and DRAM reads=refreshes (and it likely isn't DRAM)
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I'm going to say noisy supply (or bad osc) causing glitching and SRAM corruption in the LCD controller as it refreshes the screen.
End of conversation
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