I would love to see the rationale on that one, because I've run this thing six ways from Sunday trying to come up with a logical explanation as to why it's there, and I can't figure it out.
Yeah no functionality is "blocked" per se, but that's like putting a bucket of water near a door and telling people to step around it. Eventually, someone is going to trip over it.
There's so much real estate on the screen in the header bar, and most of the options already exist in the help menu.
It could be placed literally anywhere else, heck you could even have it as a panel next to "Inspect," I just have no idea why they would place it in a spot where it can't be easily moved or dismissed by the user.
As you said, with overlapping interactive elements, it has to be worked around.
Now I don't know about you but making a user work around your own UI for something like this seems like a decision that's hard to justify, and is far from being trivial with export being a key feature that most designers use regularly.
So if you'd let it slide, that's fine; I respect your take on it, and I personally wouldn't just because:
A. It violates usability heuristics and
B. There are multiple different ways that this problem could be solved without overlapping interactive elements that a user can't move or dismiss.
Cheers.