When I found that menu action, I was like:
That is great! I can now clone the rich text field text into a new entity of a target database 
.
But it resulted in a new field being created in the target database 
.
So I guess that this needs maybe named more accurately, since its a pretty invasive action.
Still I would like to ‘clone’ action (instead of the current ‘convert’ action which deletes the source entity)