> Fav Icons meant they are no longer showing the Tab Description once you have a dozen tabs as they will shrink to Icons Size. So you either have normal Tabs or Tabs with Fav Icons, not both. ( This is new in Safari 14 )

FYI, there is a way to get around this annoying new setting.

1. Enable Preferences -> Tabs -> Show website icons.

2. Quit Safari.

3. Enable Safari Debug menu as described in https://yuriy.eu/design/2020/09/21/safari-tab-preview.html

4. Open Safari and disable Debug -> Tab Features -> Narrow Tabs.