From memory, WordPad's other advantage in Windows 95 days was that it could handle files larger than 64 kilobytes. Notepad could not; it would prompt you to open files in WordPad instead if you tried.

I always liked WordPad better than Word back then. It was faster and did all of the things I needed it to do. AbiWord occupied a similar sweet spot for me for some time after I went to Linux in the early 2000s.