I’m having the same issue; this is particularly problematic when one is write a link or inline code. If you ever get the cursor back to the end of the link or inline code, the formatting becomes “sticky”; whatever you will write will be a link or an inline code.
The only way that I’ve found as a workaround is to select the last character you wrote, then use a keyboard shortcut or the formatting menu to un-format it, and then continue writing. Which is pretty slow, unfortunately !
Just got into the alpha today and couldn’t figure out why the cmd+i/cmd+b etc. weren’t doing anything till I found this. I’d really hope that gets added/fixed soon; I can’t think of a word processor/text edit without it. Even this comment box I’m typing this in supports it. It’s also really annoying that I can’t un-format the text following the formatted text till after it’s been typed.
+1 this also confused me and I thought it was a bug, since it’s so ubiquitous amongst word processors. For me the more important use case is headers (e.g. Ctrl-Shift-1) for quickly outlining sections in new pages, but yes there should be shortcuts for all formats.