It'll be handy if I made a typo or if I realized my comment was very unclear or if I forgot to add something. But I'm also thinking of all of the petty arguments. Like you said, "people could easily edit offensive comments and act as if nothing happened." I'm a bit worried about that, but it hopefully won't be an issue.
Yeah, I tend to want to follow artist based on art, but if they have views that I greatly disagree with, I'll unfollow. The feature option can give a bit more perspective on their views, as well as giving some people commenting the spotlight.