Formatter "Link (with symbol)": Title override not working

Okay I got the cause, but this needs a backend programmer.

Check this: https://git.drupalcode.org/project/micon/-/blob/2.x/modules/micon_link/src/Plugin/Field/FieldFormatter/MiconLinkFormatter.php?ref_type=heads#L170

Inside the foreach I printed:

  kint($title);
  kint($item);
  kint($item->title);

Result:

So from my point of view it needs to be something like this:

if ($title && !empty($item['#title'])) {
  $item['#title'] = $this->token->replace($item['#title'], [$entity_type => $entity]);
} elseif ($title) {
  $item['#title'] = $this->token->replace($title, [$entity_type => $entity]);
}

Can't we just look up, how the other link (it) formatters solve it? This isn't a dedicated feature for us, right?
So we should simply use the same logic or am I missing something?

micon_linkit and micon_linkit_attributes are form field widgets, not display formatters. So, as far as I can see, this is the only formatter with this logic.

Works as expected now. The additional check with the URI is necessary, as the link module shows the link URI as the fallback link text when either nothing was entered in the entity form or the link text was disabled in the field settings.

Okay all done and tested.

Thanks, merged!

(Updating to resolve Drupal.org issue index issue, please disregard)