Hi Tamir,
Thanks for your feedback in this community.
I can confirm that I have the same behavior as you described in my test tenant. Not only the Calculated column, but also the managed metadata column. Actually, per my test, if you add the column via the following method, the columns will have that Edit button.
However, that doesn't mean you won't be able to edit your calculated/metadata column, please go to the List Settings > Columns > Find your calculated column and click on its name, it will redirect you to the column edit page and you can edit the calculated column there.
Regards,
Alex Chen