Yeah, if you turn it all into buttons and settings in the actual settings menus, someone else is going to post a long rant about how the settings menus have a million confusing options that nobody uses...
Mine also isn't anywhere nearly as confusing as his by default, so this smells like a power-user-has-power-user-problems-and-solutions rant...
They intentionally made the menu longer to look worse by selecting some text first. So it is showing four sets of contextual actions: For the Link, the Image, the Selection, and the Page.
Also a few of the menu items are new since the latest ESR (the AI stuff in particular), so you won't see them if you are running v140.
Mine also isn't anywhere nearly as confusing as his by default, so this smells like a power-user-has-power-user-problems-and-solutions rant...