Ionic Angular Dynamic Template From Raw HTML String

I can inject an HTML template containing Angular syntax, but when I try to inject ionic tags and import the IonicModule, instead of the template, the system inserts another <ion-app> tag.
Why does IonicModule do this and is there a solution or workaround to make this work?
See my example source using Ionic v4 for details.
The example is a Blank Ionic project template with a few mods. The code that injects HTML is in the insertTemplate folder.