Loiter vs. Position Hold mode

Maybe a stupid question:
Does it make sense to have both Loiter and Position Hold mode assigned to the mode switch or is the difference between both modes so small that it is sufficient to have one of them?
I am still struggling with the differences between these two modes…

Position Hold has been replaced by Loiter (quite a few years ago) which has many more tunable parameters. There is no use case for Position Hold.

IIRC PosHold is AltHold but it uses GPS in hover to correct for wind drift, on the other hand Loiter uses velocity demands making it resist wind gusts for example.

I don’t think there is any reason to run PosHold now.

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