Earlier quoted context omitted.
I assume it's meant as a simplification? For comparison, when you copy something in Windows, for each offered format the software can decide to either immediately give the data to the OS for safe-keeping, or to just announce the availability of data in that format, and generate it on request. The intention obviously being that for example Excel might immediately put the text representation in the OS buffer, but only…
I’m a windows desktop dev since the last millennium and tbh never knew that there was an announce api. It seems really difficult to use as a tiered solution where you only return the more complex data when asked. After all, you must then still snapshot that data from the moment the copy occurred to be able to provide a snapshot from the time of the copy later?
Taking the Excel example form above: You got to store the cell layout and values. If it's pasted into a different excel sheet you pass that structure over. If it is pasted in a richt text editor it is converted to some richt text table format. If it is pasted to a plain text editor it is made tab separated or something and if pasted into an image editor it is renders into a bmp (well, Excel doesn't do that, but imagine ...) Doing all those conversions beforehand, just due to pressing Ctrl-C, is expensive as most of the time none is needed.