On 12.1, gnu cash fails to configure. The initial splash comes up and the tips window starts to open (blank) and then both disappear. On starting it in the terminal the same thing happens and I get the following output.

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goseyne9@metameta:~> gnucash
gnc.bin-Message: main: binreloc relocation support was disabled at configure time.

WARNING: no socket to connect to
;;; note: auto-compilation is enabled, set GUILE_AUTO_COMPILE=0
;;; or pass the --no-auto-compile argument to disable.
;;; compiling /usr/share/gnucash/guile-modules/gnucash/main.scm
;;; compiling /usr/share/gnucash/guile-modules/gnucash/core-utils.scm
;;; WARNING: compilation of /usr/share/gnucash/guile-modules/gnucash/core-utils.scm failed:
;;; ERROR: no code for module (sw_core_utils)
;;; compiling /usr/share/gnucash/guile-modules/gnucash/gnc-module.scm
;;; WARNING: compilation of /usr/share/gnucash/guile-modules/gnucash/gnc-module.scm failed:
;;; ERROR: no code for module (sw_gnc_module)
;;; WARNING: compilation of /usr/share/gnucash/guile-modules/gnucash/main.scm failed:
;;; ERROR: In procedure debug-options-interface: Unknown option name: maxdepth
Backtrace:
In ice-9/boot-9.scm:
170: 12 [catch #t #<catch-closure 8346e80> ...]
In unknown file:
?: 11 [catch-closure]
In ice-9/boot-9.scm:
2497: 10 [#<procedure 8308430 at ice-9/boot-9.scm:2485:4 (name #ptional autoload version #:key ensure)> # ...]
2763: 9 [try-module-autoload (gnucash main) #f]
2103: 8 [save-module-excursion #<procedure 840b9c0 at ice-9/boot-9.scm:2764:17 ()>]
2774: 7 [#<procedure 840b9c0 at ice-9/boot-9.scm:2764:17 ()>]
In unknown file:
?: 6 [primitive-load-path "gnucash/main" #f]
In ice-9/eval.scm:
458: 5 [#<procedure 82a06c0 at ice-9/eval.scm:452:4 (exp)> #]
In ice-9/psyntax.scm:
1024: 4 [chi-top-sequence ((debug-set! maxdepth 100000)) () ...]
922: 3 [scan ((debug-set! maxdepth 100000)) () ...]
1015: 2 [scan ((#(syntax-object debug-options # ...) (# # #))) () ...]
In ice-9/boot-9.scm:
2854: 1 [debug-options (show-file-name #t stack ...)]
In unknown file:
?: 0 [debug-options-interface (show-file-name #t stack ...)]

ERROR: In procedure debug-options-interface:
ERROR: In procedure debug-options-interface: Unknown option name: maxdepth
goseyne9@metameta:~>
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The clue to the solution must be there somewhere, but I can't find it.