Hi, I think that this is due to a new feature called App Slimming.
With iOS 8 and prior all app binaries were the same. So if you had a universal app (the ones marked with a + in the App Store and say "This app is designed for both iPhone and iPad) and you have both an iPhone and an iPad, the app binaries installed on both devices are exactly the same.
This is all fine and dandy, but when you have a bunch of Apps on a device that doesn't have much memory, having code in my apps on my iPhone that is only needed for the larger UI and features of the iPad or when going the other way apps on my iPad that have code that only runs on the iPhone (or even Apple Watch) it really starts to chew up precious storage space.
It is kinda like when the Intel Macs came out and Apple and other developers offered what were called Universal Applications. A single application bundle that contained the code for both PPC Macs and Intel Macs.
But just like in the iOS case the Universal applications on the Mac took up a lot of extra storage; sometimes hundreds of megabytes. So utility developers came out with tools (like Xslimmer) that would strip out the PPC (or Intel) code from an application and thus make it an Intel (or PPC) only application thus regaining that wasted space because the only time you would need this is if you had an external drive with applications that moved between a PPC Mac and an Intel Mac.
iOS 9 and iTunes 12.3 try to do the same as these utility developers. Now, when you download an app over the air to your device, and the developer has updated the app with this ability, only the iPhone or iPad (or iPod Touch) binaries are downloaded to the device. The rest of the un-needed code is stripped out. What you get are apps on your devices that do the exact same thing as they used to do but are now smaller.
Jump to the iTunes 12.3 back-up issue. When you sync your iPhone (or iPad) to the computer it correctly doesn't download the apps grabbed over the air on your iOS device. This is because the App would only be a partial binary, one that only runs on your iPhone (or maybe even a particular model of iPhone). If you had other iOS devices (like an iPad) and then tried to transfer an app from one device to your computer via iTunes and then to a different iOS device, it probably wouldn't run or would be missing features specifically designed for that device. When you sync a universal binary to your iPhone under iTunes 12.3 it is also doing the stripping of the un-needed code to slim the app. This is why we are required to have 12.3 for iOS 9 devices as prior versions don't know how to do this app slimming.
When you back-up your iPhone to you computer under 12.3 I have been lead to believe now happens is that the slimmed version of the app is also included in the back-up. So if you were to do a restore, even though your apps are not in the App section of iTunes, it will still restore them to your iPhone (or iPad).
If you do want to keep a copy of the full binaries on your computer (iTunes) what I would recommend is going to the iTunes preferences and click on the Store tab and put a little check mark beside "Apps" under the Automatic Downloads section. That way when you purchase an app on your iPhone the full universal binary is automatically downloaded to your computer and ready to be used (and slimmed) for your iPhone or iPad (or iPad Pro). I figure that if a user has the full universal binary in iTunes that when a backup of your device is done, the slimmed version of the app isn't included as part of the backup.
Hope that helps clarify why this is happening. I think in the end we'll be happier to have to extra room to record a few more minutes of our son's first birthday party or first day at school.
Cheers, Andrew.