I fully comprehend what blocking does... What does muting accomplish ??

It just hides their posts from the feeds, but you can still see/interact with them otherwise. Good for people who post a lot of repetitive things that don't interest you.

I don't like the feature myself, why mute when you can just block is what I say.😁🥂

I've probably only blocked one or two people ever, but I've muted quite a few just to clear out my viewing feed from stuff that gets annoying. I like the mute feature, and would probably use it more if I thought I'd remember to take it off and just like the thing like a filter.