The bug

If you place a block (in this case bedrock) two blocks away from the ground and run /place feature minecraft:bamboo_no_podzol from underneath the bedrock, the bedrock will not be destroyed.
If you place a block 3 or more blocks away from the ground and use the same command, the bamboo will replace the bedrock.

Observed Behavior:

Bedrock will be destroyed (always by the topmost block of bamboo)

Expected Behavior:

Marked as failed to place due to lack of sufficient space or placed in a smaller form without breaking the bedrock.