An engraving instruction or custom text field is only useful if it reaches whoever's actually producing or packing the order. On a small volume, someone opens each order and reads it manually. Past a certain order count, that becomes the actual bottleneck in fulfillment, not the add-on feature itself, since Product Add-Ons has no built-in way to push that detail into a production queue, a print shop's system, or a packing-slip template.
Inventory is the other gap. If an add-on represents a physical component, a specific box size for a custom bundle, an upgraded part, Product Add-Ons doesn't decrement that component's stock separately from the base product's. It tracks pricing per selection, not consumption of a specific physical item tied to that selection, which means component-level stock accuracy depends entirely on something else keeping track.