Maybe it's always been like this, but I don't recall that being the case. in my logs, I am seeing HTML code versus the formatted text it was intended for(?). I am running - 126.96.36.199
I've noticed this for the first time a couple of weeks ago while troubleshooting actions for a new rule. For me it only shows up that way when looking at past logs not live ones.
It hasn't always been this way.
I assume you're looking at past logs and not live logs. I know "Past Logs" had a change in 2.2.0 that prevented it from rendering HTML in the output. This prevented rogue log entries from messing with the entire Past Logs page, something some people occasionally experienced. I do not believe this change was ever made to Live Logs (presumably because something about the way each entry is rendered in real-time prevents entries from affecting each other; I think they've commented in the past that the past logs is more or less display of a text file).