This rather new setting (ehrm, 3 years old) is well explained in the
release blog post:
https://babeljs.io/blog/2020/03/16/7.9.0#babelpreset-envs-bugfixes-option-11083

In our code base it has the following effect:
1. Safari / Webkit has a bug
   https://bugs.webkit.org/show_bug.cgi?id=220517 related to
   destructuring function arguments.
2. `@babel/preset-env` will turn on `transform-parameters`.
3. With the bugfixes setting enabled, it will turn on
   `bugfix-safari-id-destructuring-collision-in-function-expression`
   instead which only transpiles the specific bug case which we might
   not even have in our code base