It's not uncommon to want to shut off the display independently while a machine works on stuff. It seems with Macs you can learn to invoke that easily in the OS but it's probably not "discoverable" at all.
Meanwhile, displays with indepdent power buttons have been around since decades ago and still tend to work that way with typical TV/media setups. Although that was always unergonomic and we now have semi-reliable HDMI fixes.
1) Turns off the display in 60 seconds or less. (I think it's more like 10 seconds or less, but I've stopped paying close attention to it, so I am no longer certain about the timing.)
2) Turns the display back on every single time I get a new notification, and turns it back off within a few seconds. Given that this machine is running the Work Messaging Client, that means that the display powers up and down very, very frequently.
So if this is the discoverable "turn off the display" feature that GP was talking about, it's not a fit replacement for the power button on the monitor.