Jira does this better, but is still weird with their text formatting. There are two different kinds of input fields, one of them accepts markdown, the other one some other kind of markup language. Copying some formatted text from one of the inputs to the other doesn't work because of this.
If you are in the new editor for Confluence Cloud (i.e. the editor based on ProseMirror rather than TinyMCE), you can sometimes get it to do "the right thing" of converting pasted markdown to formatted text by copying from a different text editor. For example, for me copying from windows notepad always does the right thing, but copying from vscode doesn't.
Make one mistake, you're good. Make two, tough luck, you can only undo once. Accidentally select some (or all) text and type over it then somewhere else? Today's really not your day. It's actually worse than textboxes in this respect.
This happened to me more times than I'd like to admit before I knew better.
It's actually one of the best on Windows, because if you leave your computer for a moment and it randomly decides to restart to install a Windows Update, often a notepad with unsaved changes will block it from restarting, whilst unsaved work elsewhere won't.