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(I'm guessing the author means VS Code, not MS Word here?)The author might mean MS Word. I definitely had this thought about a lot of software of all kinds, not just editors/IDEs. The two the author highlighted - view-lossage and describe-key, are to answer the questions "what sequence of keys/operations I've just performed?", and "what does this key/key sequence do, here, in this context?".
The former is useful if you e.g. mistype or type at a wrong moment, invoking some random actions in the program, and now you're wondering what exactly did you do. Also, since it's Emacs, there's actually a quick way to turn lossage into a keyboard macro and clean it up - so if you figured you want to repeat some sequence of operations after you've already done it once, you don't have to record it from scratch.
describe-key approximation exists in some software, typically via the "keyboard binding" preferences dialog containing a textbox for looking up commands by assigned keyboard shortcut. Alas, besides being a worse UX, this will only show you global assignments (or, sometimes, divided by categories). describe-key excels by showing you context-aware help, i.e. it literally tells you what command will be invoked if you press a given key sequence exactly where you are right now.