I like hearing the words “we can edit this out later” in a podcast. I have heard it in every series with two or more people talking.
It is said jokingly to cover for a candid moment and that is what I like about it. They are saying this is a podcast and we can control what goes out. Ironically, it makes the podcast sound more like live radio.
When it is two co-hosts talking, it is usually after a revealing or politically incorrect statement. It gives me a glimpse of the people behind the podcast. It gives the show intimacy.
When I hear it in an interview, it is the host communicating to the interviewee that he can speak freely. If he says something he regrets, it can be edited out later. That tells me that the interview was more of a conversation.
The part that I like best about it is that the statement itself is left in. It is a cue that they had second-thoughts after saying something and still decided to keep it in the podcast. The reasons behind those second-thoughts are usually more revealing than what was said.