Reddit came into being ~2008-9 so this practice of EDIT: blah goes back at least a decade before then.
though maybe it was already possible to edit FifoNet posts? not sure
It's common (the use of “EDIT” to flag edits generally, not necessarily the practice of doing it for trivial edits), IME, in most discussion fora where comments are editable, and has been longer than Reddit has existed.
It's a habit that goes back decades on e.g. web forums and editable comment sections; some forum software automatically marks a post as edited, sometimes adds a percentage how much was changed, and leaves an edit log for moderators. They add form fields so people can indicate what they edited, or add a grace period (setting) that avoids adding the 'edited' marker if edited within a set amount of time after posting (for e.g. typos).
TL;DR it goes back a lot farther.
Comments edited after they've been read get flagged, and people tend to explain the flag to remove suspicion of nefarious backediting.