Hyperlink, bullet points, subtitles, font size, etc.
Though I could see how annoying it would be to read when it’s improper and overused, I think it would be more helpful than harmful. I wrote some pages in word doc and screenshot it for WP just so I can have subtitles. Hierarchy is necessary.
As old as WP is, I’m surprised it’s not here. Is there a specific reason it hasn’t been added?