You may be right, although it would be nice if we could even suggest something. It often happens that the editorial summary are not correct, or even Google was able to confuse businesses with the same name.
I actually do think this is giving you the ability to edit it. The key difference here is this is for the Places API, which pushes through to Google Maps, and is not the GBP API. So there are different types of companies and qualifications for getting access to the places API and although this does connect and reflect fields on GBP profiles, it's still managed separately.
I will keep an eye out in case this is also added to the GBP API.
I just spent a bit of time looking at the Places API and I do not see anyway to update or modify data, so I'm not sure this is giving the ability to update the editorial summary. I'm more inclined to believe it is only available to be read (to be displayed elsewhere) vs. modified.
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