I used this software (the app version) a couple weeks ago for the first time. I grabbed a great clip while playing a game and wanted to show it to a friend, but I didn't want to send the full 500MB 60s video when the clip was only ~6 seconds. I didn't want to spend a ton of time downloading proper editing software so I gave it a shot. It's a little clunky if I'm honest, it feels like an evolution of Windows Movie Maker; it works in a pinch, just don't expect anything professional to come out of it.
I usually use the Xbox app that's probably preinstalled on your Windows computer anyway; it's built to integrate with the game bar and can cut videos quite easily.
For this reason, and the fact that Windows already ships a clip editor, I'm not sure what Microsoft is planning to do with this. Maybe they'll replace the built in editor at some point?
i have similar use cases, avidemux is a small free program and it excels in this trimming scenario. if you dont change video output settings (copy) it will trim in a few seconds, no rendering or transcoding