What is a notification?

Yes, I read @mcwumbly’s description, but didn’t make it any more clear to me.

The only kind of event the Notification Preferences allows me to switch off is Likes.
It doesn’t let me choose how I’ll receive the notifications.

Then, my main source of confusion is a preconception of what a notification is. To me, it’s a short informative note, which once dismissed, doesn’t bother me again. It’s not an email and definitely it’s not a complete log of all my actions.

Knowing, that every time I click the avatar menu, I’m gonna see a long list like the one below, is quite stressful. IMO it’s just too much persistent information for the end user.