Imagine you have an event and you want to create a near-identical copy of it. Not 100% identical to the original, but just with a few slight changes like a different start or end date.
You have two options to accomplish this:
First is to open the original event, click the Duplicate button, then open the new event, and update it.
The second option is to open the original event, make changes to it, then click the Duplicate button. This will create the new event with those changes already applied to it, saving you a few clicks.
To make this behavior more obvious, we've added a tip to the Duplicate button letting you know you can go this route: