Does anyone know of a clear description of how the profiles function works in this game?

What is the relationship between the profiles function in the settings option on the launcher
and the profiles option in-game?

I also notice that spaces are no permitted in the player name
So 'New Player" written into the settings or config utility
will appear as "New.Player" in the in-game profile option
and in the game dialogue texts
Bizarre
Does it mean we are only permitted to have one word names?


I just got the game, but already there are lots of little issues like this
that have me rooting around in game folders and files
even before I play the game proper
an arcane profile system
not being able to delete profiles either in the config utility or the in-game profile option
the updater error
Etc

Not encouraging