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taxonomy_term_view does not implement
module_invoke_all('entity_view', $term, 'term', $view_mode, $langcode);. Party based off and until that can get a better resolution, this is inconsistent will all the other entity modules in core which invoke entity_view on their entities (node, comment, user). The reason it has come is due to modules like EVA which cannot add additional content to taxonomy terms without creating special entity alters for taxonomy (and with modules like eva then having to create special cases for any new type of entity introduced to the a drupal application - either from core or contrib).