Every time someone brings this up, I think "oh right, I could do that" and then immediately forget. Especially if you can type quickly, it's easier to just "drive straight ahead" with the command you want, than add another "mental branch" to interrupt the flow. For the same reason I'll often Ctrl+C and start again instead of trying to backspace and correct.
Rather than a sense of "cool" or "useful" somehow I end up just feeling despair at how organically convoluted it is to determine what something on a command-line really does. To be fair, I've always been biased towards "only the simplest scripts should be in shell languages."
This also adds an intriguing new dimensions to reviewing/verifying shell commands as benign and correct... How long until LLMs start (ab)using the trick in little requests they want me to approve?
If you really want to be lazy, use a terminal file manager (I prefer lf[0]) it helps avoiding the cd && ls dance. That way, your history only contains commands you actually would want to rerun.
sigh The usability of ! versus Ctrl+R in a shell is pretty much the same as the usability of ed versus vi, or moving files around using cp/mv versus using Midnight Commander or the like: in the first case, you have to accurately remember the past (which for many people is pretty difficult); in the second case, you don't have to, because you always have an immediate view of the state of the system and the preview of the effect you're about to incur.
And yeah, I've done editing with ed; it definitely beats "cat >file.txt" and copying parts around with head/tail and retyping the corrections manually, sure, and it works in every environment that can take line-oriented input from the user (so, literally everywhere), but that's about as much praise as I can give it.
> in the first case, you have to accurately remember the past
Right, as a matter of (relatively trivial) cybernetics between man and machine, it rests on the weaker parts of the human.
TBF, it'd make a lot more sense if every command on screen (or given the timescale perhaps teletype paper prinout) was already labeled with the necessary number.