The feature team is still working away on this feature request. No new updates at this time.
-WarrenKrysta Y commented
The scenario for me has been when there's a chatty thread I don't care about in a channel I follow. By following the channel, I get notified for every reply in the thread even though I never participated in the thread myself. It's super distracting. Unfollowing the channel isn't a good option in this case because there are a lot of other posts I do need to be notified for.