I see this action as very useful, because if I need to, for example, change a text to a collapsible text, I just have to go to where the text is and click on replace, and it asks me with which element I want to replace it. Then, I choose the collapsible text, and that collapsible text is placed in the same position, with the same size, colors, etc., as the previous text was.
Currently, this is done by deleting the regular text and then adding a collapsible text. In some cases, there can even be errors because some things that shouldn’t move, do move. Alternatively, it might be necessary to unstack, ungroup, or remove a container to replace something in the editor.