I'm a former Green Beret and combat diver. You know what cold plunges are good for? Practicing will power, and bravery.
It sucks. It's the worst thing ever. But it won't kill you. So you do it for the shock and the pain and the fact that you can safely push yourself to do something you and your body realllllly hates, and you can do it without becoming David Goggins or Jocko or whatever.
Just run a cold bath, dump some ice in, and practice being brave.
The evidence for the health benefits is extremely weak. It can help accelerate “recovery” from exercise, but at a cost of diminishing the benefits of the exercise in the first place. Your body gets sore when you workout for a reason. The only reason you’d want to stop that process is you’re in a multi day competition, which you’re not.
The nordic countries have been doing polar plunges for a long time for similar reasons. They say it helps with depression too.
Chris Hemsworth, the actor who plays Thor did a mini series on National Geographic and one episode feature it.
louis ck complained about it quite eloquently on joe rogan.