I believe I’ve identified a bug with text formatting in community posts. Within an individual post, you can obviously use the text editor to format the body of your post as desired. In the example below, you can see I’ve added bold headers and separate paragraphs in this Product Update: 

However, when viewing this same post from the main Product Updates page, the formatting is not maintained and appears to be a nonsensical run-on sentence. 

While this specific example is from the Product Updates module, I observe this with any type of post. I believe that the formatting should be maintained in the preview so that it’s logical and easily understandable.