yeahbut...

once you've selected all text, any keystroke combination will delete it, without necessarily taking a clipboard version - for example, if you accidently hit control/z instead of control/x...

Not any combination will cause it to disappear. And if you do hit CONTROL-Z by mistake you've merely hit "undo." You can re-do and un-do back and forth. Anyway, to each their own form of madness.