FULL STEPS:

1. Login in as a user with a 'manager' role
2. Navigate to Site Administration / Users / Browse list of users
3. Ensure the list of users includes at least one without a profile picture (i.e., their initials are displayed beside their name)
4. 'Download table data as' CSV or XLSX
5. Open the downloaded CSV or XLSX file

WHAT YOU EXPECTED:

1. The "full name" column includes usable data (i.e., only the user's full name)

WHAT ACTUALLY HAPPENS:

1. The first column is identified as "Full name with picture and link"
2. For users without a profile picture, their initials are concatenated with their name.
3. To make the data usable, string manipulation would be required and each string would have to be assessed for whether or not it contains the user's initials.

Bug reproduced on https://school.moodledemo.net/ and https://sandbox.moodledemo.net