of the superconducting flux qubit, achieving a planar device with broad frequency tunability, strong anharmonicity, high reproducibility, and coherence times in excess of 40 us at its flux-insensitive point. Qubit relaxation times across 21 qubits of widely varying designs are consistently matched with a single model involving ohmic charge noise, quasiparticle fluctuations, resonator loss, and 1/f flux noise, a noise source previously considered primarily in the context of dephasing. We furthermore demonstrate that qubit dephasing at the flux-insensitive point is dominated by residual thermal photons in the readout resonator. The resulting photon shot noise is mitigated using a dynamical decoupling protocol, reaching T2 ~ 80 us , approximately the 2T1 limit. In addition to realizing a dramatically improved flux qubit, our results uniquely identify photon shot noise as limiting T2 in contemporary state-of-art qubits based on transverse qubit-resonator interaction.