Umbraco version 13.1.1

When I am using Umbraco.Cms.Core.Models.Blocks.RichTextBlockItem's on properties that are directly on a node then are rendered fine in the frontend using Model.Value("rteProperty").

But when the RTE property is on a Umbraco.BlockList item then in the frontend it just renders the same as I can see in the backend in HTML source if the RTE. Something like:

<umb-rte-block class="ng-scope ng-isolate-scope" data-content-udi="umb://element/045f07a2fc524f6b883a03be7e810880"><!--Umbraco-Block--></umb-rte-block>

Sometimes it works when I have just create the block list item, but if I edit it then the frontend is showing

This is my code for the block list item (Model.Content.Value("text") holds the RichTextBlockItem):

@inherits Umbraco.Cms.Web.Common.Views.UmbracoViewPage<Umbraco.Cms.Core.Models.Blocks.RichTextBlockItem>
@{
    var figureLabel = Model.Content.Value<string>("figureLabel") ?? "";
    var figureText = Model.Content.Value<string>("figureText") ?? "";

    <aside class="factbox">
        <figure>
            @Model.Content.Value("text")
            @if(figureLabel != "" || figureText != "")
            {
                <figcaption>
                    @if(figureLabel != "")
                    {
                        <strong class="factbox__caption-label">@figureLabel</strong>
                    }
                    @if(figureText != "")
                    {
                        <div class="factbox__caption-text">@Html.Raw(figureText)</div>
                    }
                </figcaption>
            }
        </figure>
    </aside>
}