This is a weird but so so killer feature to me. Our lives are constantly about text editing in one way or another, having all the usual ways of navigating text available across the entire OS is the best feature of all.
Ditto, having consistent and useful text-editing keybindings in ~all fields (that use the native toolkit, at least) was something I didn't know I needed until I experienced it. Anything that's (even) less consistent than the real-world experience of that on MacOS feels... wrong, now.
I use this feature frequently too, but the downside is that it makes non-native textboxes stick out like sore thumbs because they don't implement it.
In fact, this is common to a lot of little poweruser features on macOS, and I think is a big driver of distaste towards non-native apps by long-time Mac users.