Recently I've seen several Suggested Edits that basically take some URL provided in a post and hide it. For example:
Might be replaced with
Is there a site standard that people should be following? As is, it seems like something that should usually be controlled by author intent. For example, someone might be showing the link to indicate where the link is going or that it goes to a PDF. Or someone may be citing a source, where identification of the source is at least as important as linking to it. Or simply may want to draw attention to the presence of the link. Inline links aren't always obviously links.