I tried opening it in a brand new Guest profile in Brave, supposedly one that does not have any 3rd party plugins, and have the default settings. Labels are working as expected.
Now, I only have these 2 extensions enabled: Bitwarde and React Developer Tools. I have no idea why/how any of them can interefere with the rendering of labels.
However, to even bigger suprise, turning them off and reloading Discourse did not help either.
Next, I went through all these plugins and turned them off/on one by one to see if it affects the rendering. Nothing, the issue persists.
At this point I have run out of ideas. How do we investigate it further?