I call bullshit on this. I'm using copy/paste on the phone all the time. In using it between many different applications. The way you described it the operation would have to be implemented separately for everything. Text field to phone, text to phone with editing it, phone app (incoming number) to every-single-app-taking-text, etc. I even used copy/paste to write this message.

This functionality is so general we need a solution which works everywhere. This doesn't stop extra functionality that makes some common flows easier (number on the website to phone for example).

The same applies to the street names example. You can add location features without leaving the view with missing names where there's space available.