Timeshift vs Standard Video

I understand what the timeshift mode is intended to do, but how does it differ from standard video from a recording standpoint? Even some of the tutorials for timeshifts say you should set the One R/X to standard video. What does recording in the actual Timeshift mode (4K mod) give you that you can't get when you record standard video? It seems to me that it's still recording full video, but you can add pivots to speed up and slow down sections. Why not just add the ability to add those pivots to standard video?

I'm mainly asking this because the GPS remote allows me to select between standard video, timeshift and photo. I'm not sure why timeshift is one of the choices, since it seems to record the same data as standard video.

Thanks