Discussion List features

In setting up a discussion list, I see that there’s an option with a checkbox:

“Yes, please! Create convenience addresses too.”

Umm . . . what are “convenience addresses”? And how do they relate to the discussion list? Thanks.

Normally, the discussion list has an address like:

This address is pretty cumbersome. I think also ‘list@lists.example.com’ is created by default. The convenience aliases adds:
list@example.com as an alias (and also adds the other appropriate aliases like list-owner@example.com, owner-list@example.com, etc.)