It’s not clearly marked anywhere, so for now it’s speculation on the images, but the four drivetrains still have a small scale below the idle that’s also marked. So there will likely be a reverse range or switch.
Auto push/TOGA is done in different ways at different levels, so I don’t blame them for the lack of buttons on the push rods. This also ensures that the spoiler/power/rpm/mix levers are easy to replace. You also have at least 10 customizable buttons to assign A/T or TOGA to.
This “button” looks like an alarm, not a button. It just indicates that your landing lights are likely to be on. If you want to hook up your lights, you obviously have 10 customizable buttons under the push rods.
In my opinion, your first reaction is rather negative without specific information except for a marketing video and some photos. At first glance, this is a very complete product, especially for consoles. Yes, pedals may be cool but analog triggers can take on this job well and are old acquaintances of console players. This is also one of the few controllers where you don’t seem to have to fiddle with axis customizations or profiles between the prop or jets due to both the motion controls and traditional TPM controls.