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Provides an option to add formatters to value outputs.
It doesn't really make sense to pre-process the values with its formatted version just before the template. That would require to make a full copy of an entire table, with the memory and processing resources it takes, when it can really be processed on-the fly while it is being interpolated into the template.
It also allows for some fancy processing as shown in the last test in the test suite below where the render function itself is the formatter, allowing for the recursive processing of a tree-like data structure of an indeterminate depth.