If developer selects a text frame with several paragraphs they will see the whole text as a single string in the Properties pane or Dev Mode. They then tend to copy and paste it in code or their internationalization database as is, without separating it to several strings — and I can understand them: who will bother manually separating the text?
As a result, no distinct <p>
tags in production, no spacing between paragraphs, more unneeded manual communication and corrections though.
Figma now shows several style definitions in Properties pane but only one text string. I think you can show text divided into several strings, each with separate Copy button.