The iPhone got some undeserved credit for being intuitive just because it was so limited. It did not even have copy/paste. Even now, it is far from obvious how to use undo (tap with three fingers). It’s when there are many features that great UI/UX designers shine.
Late to this thread - while 3-finger tap pops up the text editing menu, you can undo with a three-finger swipe from right-to-left, and redo is left-to-right. Also if you have something highlighted you can do a 3-finger pinch-in to copy, do it twice to cut, and the reverse (pinch-out?) to paste.