With calculation set to automatic the formula will reevaluate if either A2 or the cell referred to in A2 changes. So yes it is volatile. Why shouldn't it be?
INDIRECT is volatile. Why? In this case, a design decision, I guess. Also, it is a function that needs to dereference the ref arg it is feeded to. So the reference must be in its most recent state for derefencing for correct results.
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