Agreed that removing indicator stalks is asinine and should never have been permitted, but what on earth is the reason for signaling in a roundabout unless you are actively changing lanes in one?
Similar to the reason you signal at a 4 way when turning across traffic (in that case it prevents a deadlock of two non indicating idiots waiting for each other when if they both indicated they could both go simultaneously).
In the roundabout case it lets drivers know you’re exiting the roundabout and they can enter it. It makes traffic much more efficient but it does need to be enforced since it’s for the benefit of other drivers not yourself.
You haven't been driving long (or at all) if you think trusting other drivers' turn signals is a good idea. Theories that look good through a bus window often don't work as well when viewed through a windshield.
You're indeed signaling that you are about to change lane or exit. People waiting to get in know that they can do so if you're in the outside lane, or that to the contrary they should not take the outside lane if you're inside.
Entering: No, that's pointless. Of course I'm going to turn as I enter the roundabout. What's my alternative? Entering the wrong way? Driving straight across the island?
Exiting: No, that's pointless. Signal all you want, I am going to wait 2 more seconds to enter the roundabout until I see if you are actually going to take the exit.
If you are on the inside lane of the roundabout and prepare to exit, you signal to warn people already on the roundabout, and tell people waiting to get in that they shouldn't get on the outside lane even if it's free.
If you are on the outside lane and prepare to exit, you signal when the road you'll take is next. Whether you'd personally wait is irrelevant; changing lanes and direction always warrants a signal, roundabout or not.