Creating a new item in SharePoint, and modifying an existing item, are two vastly different events. I would love to see seperate triggers for each of those events, instead of bundling them into one trigger.
I had a Flow created with "Send email when a SP list item is modified". It seemed to be working and then one day, all of a sudden, I was receiving the Modified email everytime a New Item was Created. I just went back in to re-create the Flow and can no longer find the "Send email when a SP list item is modified" trigger.