Bending object around a curve

I’m trying to duplicate an object and bent it around a curve. So I just put an array, followed by Curve modifier and that’s it, right? Except I’m getting these weird deformations I can’t get rid of and it drives me crazy!
Points of origins of both objects are in the identical place, all transformations are applied (loc,rot,scale).
This is a simple task, I’ve done it hunderd of times in the past, yet it doesn’t behave how I would expect. I’m pulling my hair here. What am I missing?
I’ve tried it in 2.91 and 2.93.5

CurveArray.blend (654.5 KB)

You must have scaled your curve and applied its scale, select your curve, go in Edit mode, select all the vertices, open the N panel, bring back the Mean Radius to 1.

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Omg, that’s exactly what I did and your solution fixed the problem perfectly. I thought applying scale to the cure is enough. Seems, I was wrong. I didn’t even know Mean Radius existed.

Thank you!