@olibclarke: when that happens, does drawing a new selection range help you unbold it? The character styling system is going to be improved still for sure overall, it's also not modal at the moment (in that you can't toggle it on and off if you have a specific position rather than a range selected).
Re: your general point, we offer functionality that to my knowledge no particular app does thus far. At the same time, writing workflows are complex and personal and we get that and we respond to that the best we can indeed. Thanks for your patience.