I don’t really see this as a bug, either, but an auto-correct which is following the existing conventions in terms of how it’s undone (single backspace).
I’m not comfortable with this option:
I think it is important for the rich editor to present an accurate preview of what content will look like when posted. That was a large motivator for working on this project, to make writing more familiar and predictable for those not well-versed or comfortable with Markdown.