I taught myself basic electrical/electronics when I was a boy. That gave me a big leg up in class later in life. It also hurt me because my methods were non-orthodox. It was the same with math. I often got the right answer using the wrong method and got zero marks. I remained pissed off about it for life. In industry I was pissed off that mechanical industrial civil and materials engineers couldn't do basic electronics. Not even really simple stuff. Yet they had all taken basic electrical. WTF. I think schools make it all too difficult and it's often taught by rote and not by understanding. It should be simple but they make it hard by insisting on methodologies and subject matter that will never be relevant to the students future life. So I developed our own internal course. Even many electrical engineers liked it. I ended up teaching it at university too.
Basically, you are not a dolt. Your teachers were.
A single binary input cannot be used to do more than two things. It's one or the other. A mechanical bump switch with no smarts is used to bump forward or not bump forward. It can't do bump forward, not bump forward, or bump in reverse. Neither can a VFD. It would need to be a variable signal to do that.
In simple terms, if you want bump forward, don't bump, and bump in reverse, (3 different functions) you need to use 2 inputs. One for bump forward and one for bump in reverse.
If you only have one function switch input available, then you have to choose one.
There is a workaround though. Bump switches are momentary. Direction switches are latching. You could use a direction switch that has a momentary contact before it latches to accomplish the same thing.
My lathe only has bump forward. And even so I rarely use it. I haven't made my mind up yet on how I will impliment bump with my VFD, but most likely it will only be bump forward because I want to use all the same controls.