diff --git a/demo/playground/hmr-playground.tsx b/demo/playground/hmr-playground.tsx
index 3901cfbd..efd843ab 100644
--- a/demo/playground/hmr-playground.tsx
+++ b/demo/playground/hmr-playground.tsx
@@ -9,7 +9,7 @@ const swagger = window.location.search.indexOf('swagger') > -1;
 const userUrl = window.location.search.match(/url=(.*)$/);
 
 const specUrl =
-  (userUrl && userUrl[1]) || (swagger ? 'swagger.yaml' : big ? 'big-openapi.json' : 'openapi-3-1.yaml');
+  (userUrl && userUrl[1]) || (swagger ? 'swagger.yaml' : big ? 'big-openapi.json' : 'openapi.yaml');
 
 const options: RedocRawOptions = { nativeScrollbars: false, maxDisplayedEnumValues: 3 };
 
diff --git a/src/services/OpenAPIParser.ts b/src/services/OpenAPIParser.ts
index 83a65fda..11a001aa 100644
--- a/src/services/OpenAPIParser.ts
+++ b/src/services/OpenAPIParser.ts
@@ -148,7 +148,7 @@ export class OpenAPIParser {
    * @param obj object to dereference
    * @param forceCircular whether to dereference even if it is circular ref
    */
-  deref<T extends object>(obj: OpenAPIRef | T, forceCircular = false): T {
+  deref<T extends object>(obj: OpenAPIRef | T, forceCircular = false, mergeAsAllOf = false): T {
     if (this.isRef(obj)) {
       const schemaName = getDefinitionName(obj.$ref);
       if (schemaName && this.options.ignoreNamedSchemas.has(schemaName)) {
@@ -166,22 +166,22 @@ export class OpenAPIParser {
       // deref again in case one more $ref is here
       let result = resolved;
       if (this.isRef(resolved)) {
-        result = this.deref(resolved);
+        result = this.deref(resolved, false, mergeAsAllOf);
         this.exitRef(resolved);
       }
-      return this.allowMergeRefs ? this.mergeRefs(obj, resolved) : result;
+      return this.allowMergeRefs ? this.mergeRefs(obj, resolved, mergeAsAllOf) : result;
     }
     return obj;
   }
 
-  mergeRefs(ref, resolved) {
+  mergeRefs(ref, resolved, mergeAsAllOf: boolean) {
     // eslint-disable-next-line @typescript-eslint/no-unused-vars
     const { $ref, ...rest } = ref;
     const keys = Object.keys(rest);
     if (keys.length === 0) {
       return resolved;
     }
-    if (keys.some((k) => k !== 'description' && k !== 'title' && k !== 'externalDocs')) {
+    if (mergeAsAllOf && keys.some((k) => k !== 'description' && k !== 'title' && k !== 'externalDocs')) {
       return {
         allOf: [resolved, rest],
       };
@@ -244,7 +244,7 @@ export class OpenAPIParser {
           return undefined;
         }
 
-        const resolved = this.deref(subSchema, forceCircular);
+        const resolved = this.deref(subSchema, forceCircular, true);
         const subRef = subSchema.$ref || undefined;
         const subMerged = this.mergeAllOf(resolved, subRef, forceCircular, used$Refs);
         receiver.parentRefs!.push(...(subMerged.parentRefs || []));
diff --git a/src/services/models/Schema.ts b/src/services/models/Schema.ts
index f8971ac4..adb2de19 100644
--- a/src/services/models/Schema.ts
+++ b/src/services/models/Schema.ts
@@ -76,7 +76,7 @@ export class SchemaModel {
     makeObservable(this);
 
     this.pointer = schemaOrRef.$ref || pointer || '';
-    this.rawSchema = parser.deref(schemaOrRef);
+    this.rawSchema = parser.deref(schemaOrRef, false, true);
     this.schema = parser.mergeAllOf(this.rawSchema, this.pointer, isChild);
 
     this.init(parser, isChild);
@@ -193,7 +193,7 @@ export class SchemaModel {
 
   private initOneOf(oneOf: OpenAPISchema[], parser: OpenAPIParser) {
     this.oneOf = oneOf!.map((variant, idx) => {
-      const derefVariant = parser.deref(variant);
+      const derefVariant = parser.deref(variant, false, true);
 
       const merged = parser.mergeAllOf(derefVariant, this.pointer + '/oneOf/' + idx);
 
diff --git a/src/utils/__tests__/__snapshots__/loadAndBundleSpec.test.ts.snap b/src/utils/__tests__/__snapshots__/loadAndBundleSpec.test.ts.snap
index c8788037..1aa507f9 100644
--- a/src/utils/__tests__/__snapshots__/loadAndBundleSpec.test.ts.snap
+++ b/src/utils/__tests__/__snapshots__/loadAndBundleSpec.test.ts.snap
@@ -1864,15 +1864,9 @@ Object {
         "content": Object {
           "application/json": Object {
             "schema": Object {
-              "allOf": Array [
-                Object {
-                  "description": "My Pet",
-                  "title": "Pettie",
-                },
-                Object {
-                  "$ref": "#/components/schemas/Pet",
-                },
-              ],
+              "$ref": "#/components/schemas/Pet",
+              "description": "My Pet",
+              "title": "Pettie",
             },
           },
           "application/xml": Object {
@@ -1952,11 +1946,7 @@ Object {
       "Category": Object {
         "properties": Object {
           "id": Object {
-            "allOf": Array [
-              Object {
-                "$ref": "#/components/schemas/Id",
-              },
-            ],
+            "$ref": "#/components/schemas/Id",
             "description": "Category ID",
           },
           "name": Object {
@@ -2039,19 +2029,11 @@ Object {
             "type": "boolean",
           },
           "id": Object {
-            "allOf": Array [
-              Object {
-                "$ref": "#/components/schemas/Id",
-              },
-            ],
+            "$ref": "#/components/schemas/Id",
             "description": "Order ID",
           },
           "petId": Object {
-            "allOf": Array [
-              Object {
-                "$ref": "#/components/schemas/Id",
-              },
-            ],
+            "$ref": "#/components/schemas/Id",
             "description": "Pet ID",
           },
           "quantity": Object {
@@ -2096,26 +2078,14 @@ Object {
         },
         "properties": Object {
           "category": Object {
-            "allOf": Array [
-              Object {
-                "$ref": "#/components/schemas/Category",
-              },
-            ],
+            "$ref": "#/components/schemas/Category",
             "description": "Categories this pet belongs to",
           },
           "friend": Object {
-            "allOf": Array [
-              Object {
-                "$ref": "#/components/schemas/Pet",
-              },
-            ],
+            "$ref": "#/components/schemas/Pet",
           },
           "id": Object {
-            "allOf": Array [
-              Object {
-                "$ref": "#/components/schemas/Id",
-              },
-            ],
+            "$ref": "#/components/schemas/Id",
             "description": "Pet ID",
             "externalDocs": Object {
               "description": "Find more info here",
@@ -2186,11 +2156,7 @@ Object {
       "Tag": Object {
         "properties": Object {
           "id": Object {
-            "allOf": Array [
-              Object {
-                "$ref": "#/components/schemas/Id",
-              },
-            ],
+            "$ref": "#/components/schemas/Id",
             "description": "Tag ID",
           },
           "name": Object {
@@ -2239,6 +2205,7 @@ Object {
             "oneOf": Array [
               Object {
                 "$ref": "#/components/schemas/Pet",
+                "title": "Pettie",
               },
               Object {
                 "$ref": "#/components/schemas/Tag",