What’s the role of the Content Vertical Spacing setting?

Setting “Content Vertical Spacing” on a single page to “Disabled” would, presumably, remove the margins from the top and bottom of the content area, up against the header and footer.

It correctly adds the body class content-vertical-padding-hide, but the associated CSS rule is:

.content-width-fullwidth .content-area, .content-vertical-padding-hide .content-area {
  margin-top: 0;
  margin-bottom: 0;
}

This doesn’t do anything, because it seems that .content-area already has zero margins on the top and bottom. It seems like these styles should be targeting the .entry-content-wrap element, which has padding on the top and bottom that create the space between the header and footer:

.content-width-fullwidth .entry-content-wrap, .content-vertical-padding-hide .entry-content-wrap {
  padding-top: 0;
  padding-bottom: 0;
}

But maybe this setting does something entirely different that I’m not noticing! I’ve attached a linked page for reference. Note that against the header, I’ve written our own styles for pages that start with a cover block, but you can still see the gap between the content body and the footer.

The page I need help with: [log in to see the link]