Warm the olive oil in a large Dutch oven over medium heat until shimmering. Add the onion, bell pepper, carrot, celery, and ¼ teaspoon salt. Cook, stirring occasionally, until the vegetables are tender and the onion is translucent, 7 to 10 minutes.
Add the garlic, chili powder, cumin, smoked paprika, and oregano. Cook, stirring constantly, until fragrant, about 1 minute.
Add the diced tomatoes and their juices, the black and pinto beans, vegetable broth, and bay leaf. Bring to a gentle simmer and cook, stirring occasionally, for 30 minutes.
Remove from the heat and discard the bay leaf. For the best texture, transfer 1½ cups of the chili (with some liquid) to a blender and blend smooth, then stir it back in — or use an immersion blender or potato masher to thicken it.
Stir in the cilantro, then the vinegar to taste. Adjust salt. Serve in bowls with your choice of garnishes. Keeps about 4 days refrigerated, or freeze for longer.