Not always though. Let’s say that someone is saying ”1 2 3 4 <unintelligible> 6 7 8” then it will happily write 5 in the middle and give it good confidence as based on the context, it is the only likely word. Varies between TTS providers though.
Basically, why they are so good in average is that they estimate what is said most often based on the context. The context being then not only the audio but what was transcribed previously.
And if you don’t want it to be based on what is most likely to be said in context and only based on the audio around 1 word it is going to be awfully wrong most of the time.
Add accents, and half the words would be indistinguishable from each other (note that word "indistinguishable", ironically, would be quite distinguishable).
People parse things like that in so much context, based in their own understanding of a situation, their grasp on speakers accent or speech impairments, etc.
Add to that that most native english speakers blur words together. The pause that in some languages is used to separate words, is used in english to separate sentences. English language as spoken doesn't separate words natively.
The text-to-speech before LLMs was meh. I think it's the ability to generate filler for uncertain words that makes it feel magic compared to before.