[...]I believe that this will provide many benefits. A minor one will be easier importing of transactions into financial and accounting software.
But metadata can already be recorded clientside. it provides the same benefits, without the blockchain bloat, plus room for additional data.
An enormous benefit will be the ability to see at extremely precise detail what is being bought and sold globally, which would give even more information to the market as a whole to make decisions on what production and services to increase, and which to exit.
It's hardly "extremely precise" since anyone can attach any label to any transaction.