Plain Text Model Value in HTML field

I have a slightly strange error. If I create an html field with a model key in it’s schema, the current value of that item in the model is displayed in plaintext above whatever HTML is in the field. My reasons for including a model key are so that validation calculations can have easy access to the current value.
I have included a screenshot of the issue and code to recreate a MWE:

[{
    "schema": {
        "fields": [{
            "inputType": "text",
            "label": "My Input",
            "model": "field1",
            "styleClasses": "col-md-6",
            "type": "input"
        }, {
            "html": "<h2>This is HTML!</h2>",
            "label": "HTML Field",
            "model": "field1",
            "styleClasses": "col-md-6 mt-2",
            "type": "html"
        }]
    }
}]

This is expected behaviour.

{
            "html": "<h2>This is HTML!</h2>",
            "label": "HTML Field",
            "model": "myFMS_HTML",
            "styleClasses": "col-md-6 mt-2",
            "type": "html"
        }

In the above example myFMS_HTML will contain HTML that will be rendered.