PS 2023 & 2024: CR3s not Opening in RAW Editor?

Not sure if this is a bug or a feature, but I just tried opening a bunch of CR3 photos in Photoshop for the first time in a long time--instead of opening in the RAW editor as expected, they all opened the same way a JPG would. Happens in both Photoshop 2023 and 2024, camera RAW version is 16.5

If this is a change to how Photoshop operates I dislike it. Is there a way to get it to handle CR3s the old-fashioned way, by opening them in the RAW editor?

(To be clear--this happens with drag-and-drop into Photoshop; if I go through the File menu and pick "Open as," I can get it to open through the RAW editor that way, but that doesn't work if (for instance) I need to do a batch export.

What am I missing here?