Yep, the segmentation is just how tagging of ways works in OSM. You'll often find this around large intersections due to tagging each section with number of lanes, turn restrictions, etc.  There are cases where combining sections makes sense, just keep in mind that sometimes they're split for a reason (and once in a while the reason may be worth questioning, like a sudden change in road classification, or slight variation in naming).

AFAIK there's still no way to easily select, say, all same-named sections between two points in the iD editor, unfortunately. There may be in standalone editors like JOSM.

Oh, and as far as nodes for sketchy businesses added years ago by single-edit accounts, if there's no visible indication of it still existing there, I would say go ahead and delete it... or maybe convert it to an address node if it contains correct info.