...are you sure? When bluetooth was broken as all hell in the Monterey betas I believe that the reset trick was the go-to for people to get it to reconnect to devices properly.
Unless they removed it entirely in a later beta and I'm simply unaware.
I can only confirm that it's gone from Monterey RC1 and RC2 (& therefore the release build).
How are secret features better than the now-discoverable option of simply shutting it off and turning it back on? It's an all-time computing classic and now it's using the UI classic toggle language. This seems superb to me.
Turning bluetooth on and off doesn't reset anything, so it doesn't help when people have deeper problems with their Mac's bluetooth.
https://www.macrumors.com/how-to/reset-mac-bluetooth-module/
That no longer exists on Monterey.
They might be referencing Control Center, though.