It takes the displayed text of whatever the link was (in this case a web address, further down is a comment with “of this” as the link text) and uses that as the piped link display text. Misleading, yes, but it’s due to an understandable issue. Maybe this should be a suggested change.
If only it were a piped link
It is. You can change the text of the link by using
[text here](link here)
Oh god, why does it do that, making the link text be a different valid link is very misleading
It takes the displayed text of whatever the link was (in this case a web address, further down is a comment with “of this” as the link text) and uses that as the piped link display text. Misleading, yes, but it’s due to an understandable issue. Maybe this should be a suggested change.