Follow-up Comment #1, bug #405 (project tex4ht):
I've posted an answer on TeX.sx. I will copy it here as well:
You are right, small piece of CSS can fix that:
\Preamble{xhtml}
\Css{li img{vertical-align:middle;}}
\begin{document}
\EndPreamble
tex4ht doesn't try to match visual appearance of the PDF version in HTML, so
it is necessary to style it according to your needs sometimes.
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