If you long press on the option name you'll get in-program help.
They're all fine, and for many (basic) books it may not make much of a difference. You've got text divided in paragraphs, what more do you need anyway? But for books that are a little more fanciful, 'book' and 'web' are the only modes that can display it as intended. Note the floating boxes on the right in the linked issue.
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