TL;DR We can now either show all or nothing of the metadata, using the CSS snippet provided in the “Reduced frontmatter in reading view” we can however hide all other metadata (or to some extent choose what to show).
I don’t think it’s correct to call this a bug. It’s more of a work in progress, as they seem to be reworking the metadata part of Obsidian. In this post I’ll show some quotes to why it seems to be like this, and towards the end, I’m going to show a CSS snippet to help whilst they’re working on it.
References as to this ss a Work In Progress
From Obsidian Release v1.1:
Show frontmatter does now either show all or nothing of the metadata, and the actual frontmatter section is always hidden in reading mode.
Here @rigmarole states what I said earlier on that there is ongoing work with the metadata/yam/frontmatter section, so some changes will occur in the near future.
A temporary fix
In the post above, I post a CSS snippets which allows for the tags and aliases to be shown, and all else hidden when the Show frontmatter setting is turned on.
It also talks a little about the fact that currently we can choose to show/hide the tags line, the alias line and all of the rest of the metadata. I would love for us to be able to further style/handle the various bits and pieces of the metadata, so I’ve also written a feature request, which you could support if you agree that would be nice: