Predicted display.

The string in the script is the ten characters < b > t e a < / b > with the letters of tea between the tags.
textContent assignment: the literal paragraph shows those characters, including the angle brackets.
innerHTML assignment: a browser that parses HTML would show the word tea in bold and would not show the tags.
That parsed display was not observed.

Activity string, different from the script: <i>lane</i>
Predicted literal display: the characters <i>lane</i>
Predicted parsed display: the word lane in italic.