The inverted iota means "the" in symbolizing a definite description.
Is it an operator?
Word doesn't include it in the operators but in the Letter-like Symbols group, where some are italic and some aren't.
Unicode does not specify it as italic.
Logicians generally prefer to see it as italic, starting with Principia Mathematica 1: 30, and perhaps even with Peano (who did his own typesetting).