This recently changed. Firefox will turn it off for you, but the same keystroke does not turn it back on. In other words, it _used_ to be a toggle, but now it switches in one direction only.
There is a fix; add in about:config an item "browser.toolbars.bookmarks.2h2020" set as boolean False.
There is a fix; add in about:config an item "browser.toolbars.bookmarks.2h2020" set as boolean False.