It prevents any website being able to run intercepts on pasting. This is good when they’re using it to just prevent you from doing it for no real reason but there are many situations where you don’t want a user to be able to arbitrarily just drop text into a text field.
The big one is 2fa. A lot of the time you might need to enter a five digit code and each number may need to be entered into a particular box if you just click in the first box and press paste after copying the code from an email then it’ll paste the entire contents into that one box. You don’t want that you want some code to automatically paste each letter into each subsequent box, that requires you intercept the original paste command.
Which will work fine right up into your phone explodes. You don’t punch a pinhole to deflate bulging batteries you replace the battery. The bulging isn’t dangerous in and of itself, the bulging is a symptom of a problem you are ignoring.
Yeah everyone else can see the sentence as it is. It’s just an instance thing.