Q:

Why is update attributes not on the product creation form?

Why is update attributes not on the product creation form?
Why is it on the "Manage Products" Grid?
Thanks

A:

Because you cannot update something that hasn't been created yet.
Maybe you misunderstood what "update attributes" means.
It doesn't actually update any attribute. It updates attribute values for certain products.
You can select from the grid existing products and bulk update the value for one or more attributes.
All the products you select will then have the same value for certain attributes.

