Should all toolbar buttons have shortcuts / hotkeys?

It seems like many products have hotkeys for "simple" toolbar functions like bolding, etc. -- functions that apply to a selection but don't require further input.

For functions that require further input, such as setting a font style, it seems those require user to either use their mouse or transfer focus to the toolbar and navigate it that way.

Am I wrong about that? How does WCAG apply? I'm still absorbing WCAG but it seems that as long as you have some way to perform a function with a keyboard, it doesn't need to be in a hotkey.