Hi @samwoo,
I think we found solution for your problem. Current implementation is displaying disabled multiline control when is set to read only mode (left side of progressive capture) - so you can see your text exactly like you typed it there. With new change it will be displayed the same way as it is on right side of progressive capture - but only if READ only attribute will be set.
So the result will be like on screenshot attached below.
Please note that this should also solve your problem described in post:
You can use regular wiki formatting markup to format your text and create links if needed.
Kind Regards,
Miro