> On void elements, [the trailing slash] does not mark the start tag as self-closing but instead is unnecessary and has no effect of any kind. For such void elements, it should be used only with caution — especially since, if directly preceded by an unquoted attribute value, it becomes part of the attribute value rather than being discarded by the parser.
It was mainly added to HTML5 to make it easier to convert XHTML pages to HTML5. IMO using the trailing slash in new pages is a mistake. It makes it appear as though the slash is what closes the element when in reality it does nothing and the element is self-closing because it's part of a hardcoded set of void elements. See here for more information: https://github.com/validator/validator/wiki/Markup-%C2%BB-Vo...
The third way of a bare tag is where the confusion comes from.
Now, we can discuss whether we should optimize for the unfamiliar reader, and whether the illusion of actual meaning the trailing slash in HTML5 can be harmful.
I would note that exactly like trailing slashes, indentation doesn't mean anything for the parser in C-like languages and can be written misleadingly, yet we do systematically use it, even when no unfamiliar reader is expected.
At this point, writing a slash or not and closing all the tags is a coding style discussion.
Now, maybe someone writing almost-XHTML (closing all tags, putting trailing slashes, quoting all the attributes) should go all the way and write actual XHTML with the actual XHTML content type and benefit from the strict parser catching potential errors that can backfire and that nobody would have noticed with the HTML 5 parser.
<div style="color: black">a <div style="color: red">b <div style="color: green" />c </div>d </div>e
produces black a, red b, green c, red d, black e