I would use this all the time. As a school, we buy our devices annually, so there's typically a lineage of devices by year. For example, this year, all the faculty laptops are MacBook Air 9,1. Our IT office has (2) MacBook Pro 16,1 and one MacBookPro 16,2.
At inventory time, it's great to see where different devices are, and which ones will be supported by new OS upgrades (and which ones won't). Being able to search that is really useful.
Currently, that's our naming convention so we can locate quickly. {type}{model}{last 3 of asset tag}. So, mbpro141482 is easily identifiable as a 14th generation MacBook Pro, 13" model with asset tag ending in 482.