Two primary uses cases for this:
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When a formula references a table cell, the result should be editable just as it is inside the table/row views.
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Pack formula definitions should be able to specify an update function handler, which makes the formula result editable, which blur/onchange events then trigger the update.
Currently because of a lack of a textarea (multiline text control input) there isn’t really a convenient way of working around this. For single line text, one can use the text control input, along with an action button to send the update, however it is far less ideal than a direct two-way sync.