* It uses a text-input key in a modal way, when no other unmodified text keys are used modally in a web browser.
* Shifting between modes can happen inexplicitly and unintentionally.
* It's potentially destructive.
Add this all up and you have a recipe for users unintentionally and unexpectedly losing data. That's bad enough on its own.
The fact that the justification for it appears to be "because somebody made a poor UI decision 20 years ago and people don't like change" is inexcusable.