I noticed this too, and as a developer sent in a bug report about it that got marked as a duplicate. Unfortunately this wasn't fixed in 10.12.1, so we'll see if a future update fixes this. I do think it is a legitimate bug because if you use "log stream" in Terminal as a non-admin you get the expected stream of log messages as we did under El Capitan and earlier. This is also a functional workaround until Console is fixed.