In water, flowing water, and certain waterlogged blocks, your spawn point won't be obstructed. This doesn't happen with any other dangerous blocks.
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This report should be set to community consensus because I was able to reproduce it as part of MC-189579.
Can confirm in 21w03a.
Can confirm in 1.19.

This relates to MC-273848, as valid spawn points underwater could end up being the world spawn.

There could be check for an active conduit which is in range of the affected spawn point.

In 24w33a.

i cannot reproduce in 24w40a

Can still confirm in 1.21.2-pre1.