Simple LaTeX formulas displaying with bugs in Excalidraw files

I have some Excalidraw files that I’ve created more than a year ago, which had LaTeX formulas that got bugged for some unknown reason. They were displaying correctly back then, but now they appear with a lot of the $ symbol. E.g.:

From the export I did a while ago, it was correctly displaying:

What I’m trying to do

I tried searching online but couldn’t find anything remotely similar to this.

Things I have tried

The embedded files don’t seem to be incorrect:

509c53b06bc78ac76961cbdceecf372d075a23f5: $$\alpha: SO(2) \times \mathbb{R}^2 \setminus \{0\} \to \mathbb{R}^2 \setminus \{0\}$$

I really have no clue what could be going on. It appears to me to be an incompatibility issue of sorts, but I don’t know whether it’s some Excalidraw-backwards-compatibility problem, or (somehow) an incompatibility with other packages – which don’t appear to be used at all in this case (LaTeX formula is too simple), but who knows!

Thanks to @zsviczian’s help, I found the problem: there was some conflict with my preamble.sty file (which I didn’t even remember I created). It had these (very basic) commands defined:

Deleting them and saving this file (and restarting Obsidian) solved my problem:

Note to self (and others):
Do not put $ in your preamble \newcommand’s!!