The title and the Edit button both open the product. Nothing on this list changes anything.
What opens
The product's own page: its details, its picture, the categories and filters it's tagged with, and its variants — where the price, SKU and stock actually live. That page has its own help.
+ Create product
Top right, and only if your role includes managing products. It makes a store-only product with no catalogue behind it — you supply the title and picture yourself.
Don't use it for cards. If what you're adding exists in the shared catalogue — a single, a sealed box, an accessory we carry — add it from Catalogue instead. You get the artwork, the set, the rarity and a market price that keeps itself up to date. Typing it in by hand here gets you a product with none of that, which then has to be priced and maintained by hand forever.
After creating
A new product lands with no price and no stock — creating it and stocking it are deliberately two steps. You're taken straight to its page to add a variant, which is where it becomes something a customer can actually buy.