I'm pretty sure this has been the case on the iPhone since iOS 1.
The long-touch-space-bar-to-move-the-cursor thing is much newer, originally a force touch action on the keyboard.
The spacebar thing has been around for a few years now. Tbh I'm still a little salty we lost 3D Touch, which was a better solution. That provided the same feature through a more intuitive action back on the iPhone 6s.
Here, I'll contribute (for iOS):
• You can perform special actions with key combinations in the iOS notes app. e.g. Insert new lines within tables or lists by holding shift and pressing return.
• Long pressing many keys will provide new entry options. Long pressing the hyphen will surface en and em dashes, for example.
• Long pressing the globe icon will allow you to switch between different alphabets, or toggle a one-handed keyboard.
• It's possible to hold down the shift key and press a letter to capitalize, but toggling shift is easy enough that this more traditional method feels relatively cumbersome.
• Some apps, like the iOS notes app, allow you to long-press a selection and move it to a new position.
• You can enable a text selection through the spacebar long-press by tapping anywhere on the virtual touchpad while the finger that initiated the touchpad remains touching the display.