Yes, with an edit history I think it's a useful feature. I often use it to add pre formatting to errors or code examples people post, or to edit titles to be more helpful ("weird issue with X" → "clearer description of the bug" after triage). It used to be that it didn't have an edit history. I think it was added about five or six years ago? You could also delete comments with no indication there was ever a comment there.

I once had someone request a feature and they became quite aggressive after I declined it. I essentially told them to fuck off[1] and that was the end of it. A few months after this he strategically edited and deleted some comments to make it appear I was just insulting them for no reason and then started posting on HN and Lobsters what an asshole I was. Back then, there was no real indication of their manipulation.

[1]: In part because he was already a known troll. Well, maybe troll isn't the right word, but he does have a history of mass-reporting hundreds of feature requests across hundreds of repos, to the point where it's basically just spam. He's been banned from Github many times over this, but just keeps creating new accounts and it all starts over again.