In my case, I was on a small forum, where the main moderator reads literally every post, and likely would find out about it. I personally would rather revert the changes myself, then flag the post to wait for a mod to fix it (plus, we talked about it in the thread, so the mods could see what happened). I think maybe being able to flag edits would allow someone to flag an edit, as well as being able to revert the changes, so that the vandalizer gets their punishment, and the post gets back to how it’s supposed to be without waiting for a mod to fix it (which can take some time).