It can do the incantation thingie, but it also allows binding a hotkey to showing a list of your snippets, searching through them, and inserting them with Enter.
It can also do hyperlinks, bold, italic, if the app you're typing into supports rich text. Example: https://shots.panaitiu.com/gw50Zdcm
EDIT: Looks like for snippets, it requires a key command to get Raycast to appear, then you have to say Search Snippets, then you have to type your search string, then you have to select the desired snippet. Is it really this many steps? My old workflow was shift-cmd-v, choose the desired snippet via arrow keys, hit return. With muscle memory, this ended up taking less than 4 seconds for most snippets.
I rarely if ever see that main search UI, I have hotkeys for all my favorite workflows.
The Shelf plug-in also very handy along similar lines.
I do use the MacOS text expansion system for my name and a few other items, but what it lacks is (1) I cannot use hyperlinked text in the expanded snippet, and (2) it requires me to remember an incantation for each expansion (I want to be able to look at a list of items and pick the one I want.
Does anyone know of a tool that can do this? I don't mind paying, but free is always appreciated!