Cannot Edit Reusable Blocks

Problem/Motivation

I can create, place and view reusable blocks but when I try to edit a reusable block gutenberg editor does not show up. It is not available as one of the text formats.

Steps to reproduce

1. Create a reusable block in gutenberg editor
2. Place the block in any page
3. Click "edit" from the contextual menu on the page

Proposed resolution

Reusable block should be editable in gutenberg editor