This time, it was the crappy iPad OneNote app that drove me to look at Evernote again. I've been a OneNote user for years, but a couple of times a year, I find a reason to look for a replacement. As others have mentioned, if you paste something and inadvertently overwrite something else, and that paste cannot be undone, then the overwritten content is gone forever.
FWIW, I'd like to add that this bug is still there and it is potentially disastrous (4.).