It may or may be related to the quadstick.
Searching Brave's AI produces this:
The issue of the camera shooting straight up in the game Megabonk has been reported by multiple players and appears to be linked to the game's handling of input devices, particularly controllers, even when they are not physically connected.
A common fix reported by users involves adjusting Steam's input settings: unchecking "Enable Steam Input" while the controller is disconnected, starting the game, then plugging in the controller and enabling Steam Input through the Steam controller settings.
This solution has been confirmed to work for some players experiencing the spinning or uncontrollable camera movement.
Another significant cause identified by a player and acknowledged by the game's developer is the presence of a phantom or non-existent controller being detected by the computer.
This hidden controller, which does not exist in reality, can interfere with the game's input recognition, leading to erratic camera behavior. Removing this phantom device from the system's device list resolved the issue for the player who reported it.
This suggests that background software or system-level input detection might be misinterpreting a non-existent controller as active, which then affects the game's camera controls.
The problem has persisted since at least February 2025, with reports indicating it occurs regardless of whether a controller is plugged in or not, and even after full system restarts.
While the game's developer has acknowledged the issue, no official patch has been mentioned in the provided context.
Players using only a mouse and keyboard have also experienced the problem, confirming it is not solely a controller-specific bug.
I'm not sure what they mean by phantom or non-existent controllers. Maybe in the Device Manager, show Hidden devices and Device by container and uninstall all the shaded controller devices, one by one.
You can turn off PS4 mode in QMP and save preferences to try that.
If you are using ViGEmBus, try disabling it, or even uninstalling it.
This might be a job for HIDHide. I usually don't recommend people install it, but this might the exact use-case for it.