Describe the solution you'd like
This is an inconvenient issue, but not like a bug.
When the content gets written to logseq, it puts quotation marks around the {{url}} value; this basically make it merely a text string. To activate it as a link, one needs to edit the block and remove the quotation marks.
It's hard not to like the current behavior when what I'm clipping is a Youtube URL, though. It might be something that could be settable when defining a new template, too.