Paste-HTML example doesn't seem to work if initialValue is an HTML string

[awareness481]

Using this example but with the below modification:

const PasteHtmlExample = (initialValue) => { // initialValue = "<p>hello</p>"
  const parsed = new DOMParser().parseFromString(initialValue, 'text/html')
  const [value, setValue] = useState(() => deserialize(parsed.body));

makes the editor display: "[object Object]". Any pointers on having the initialValue of the editor be a (deserialized) html string?