Projectiles with custom item models rotate strangely

Relates to MC-250134.

The bug

If a throwable item is assigned the model of something like a block, the rendered model will rotate strangely depending on the camera position and rotation.

How to reproduce

1. Place some soul sand deep under water

2. /give @s ender_pearl[item_model="minecraft:furnace"]

3. Throw this into the bubble column such that it will remain suspended
4. Try to view the front face of the furnace

Expected results

You'd be able to see it from some angle.

Actual results

It always rotates away from you.

How to fix

Ideally billboarding would be defined in the item model file (presumably for each "display" type), rather than forced for the entity, such that it could be changed by resource packs such that custom 3D item models do not necessarily rotate like this. This setting would be able to be overridden by item display entities, of course.