This is a show-stopper issue for anyone trying to leverage the API to get or update CMS Items. I’d go as far as saying it makes the API near-useless for many CMS related use cases.
Certainly most sites using CMS Collections are also using Rich Text fields, and those Rich Text fields support Code Embeds. If the Code Embeds are stripped out by the API then it makes the CMS endpoints unreliable, there is no data consistency and no trust.
The same issue occurs when trying to export CMS content from Webflow. Code Embeds are stripped from the exported content as well, so this issue appears to be platform-wide. Is now fixed, see here.
I absolutely appreciate the hard work that went into the recent Data API v2 release, but please, pretty please… move this to the top of the roadmap. Bring data consistency to the CMS endpoints. 