The buttons are useful for individuals unfamiliar with markdown. In a community that transitioned from Discourse to Discord, one of the initial feedback from the members was the absence of the formatting toolbar. However, once I had learned the formatting techniques, I found myself preferring to type the formatting commands, but not when using a smartphone or tablet. This is because the buttons are placed near your fingers, making them more accessible than special characters on the keyboard of my phone. This is the reason I use them.
I have also recently reported the issue that was mentioned in the op.
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