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You cannot create custom categories, you're limited to the 5 options Gmail provides you.

You can't archive all in one swipe.

I for example have all promo emails "queue" up whenever they come in and show up at 9am every day.

I have all "low priority" emails show up at 5pm when I'm winding down my workday to deal with them.

That's the kind of thing I'm going to miss the most.