|Because that's precisely what you've told it to do!
You need to split the string and add the elements to the columns:
Dim line As String = decode.GetString(DataBytes)
Dim parts() As String = line.Split("|"c)
Dim item As New ListViewItem()
item.Text = parts(0)
For i As Integer = 1 To parts.Length - 1
NB: According to your screenshot, your text starts with the
| character. You may need to adjust the indices on the array to skip the blank first element:
item.Text = parts(1)
For i As Integer = 2 To parts.Length - 1
"These people looked deep within my soul and assigned me a number based on the order in which I joined."