Interesting... If I do the recording in Brave, it has the wrong behavior. If I do the recording in another app, then open Brave and press F2 to run the recording, it works correctly.
That led me to try the regular record action so I could see what actions were being recorded.
Turns out, it is recording both the menu item and the keystroke.
Since it works as expected in every other app I've tried, it doesn't look like a KM problem.
What I do notice is that, when in Brave (and not sending via KM) any menu shortcut results in the top-level menu bar item (i.e. "File" if you ⌘N) flashing as though a menu item where being chosen. That behaviour is in sharp contrast to every other Mac app I've tested. However, KM-recording a ⌘N only results in the single "Keystroke" action.
If it detects a menu selection, then it will record the menu selection, since that is a much more useful action to record than say mouse movements to select the menu. That said, it does not seem to be recording as many menus as it should (as it probably did in the past), which is probably due to changes in the way Apple does things.
Recording is generally designed to create a starting point for a macro, not a robust finished macro.
And Quick Recording is designed for very simple sequences.