Kakoune has replaced many features with multicursor, including the sed-like commands (where you just select an area, search for patterns inside it to create the multiple cursors, then perform regular edits (which also means you can perform much more complex than simple replaces).
It is really useful for refactors, e.g. even if you don't have any LSP (e.g. for plain text) you can easily rename symbols, reorder/select in log files, etc