Multi-ref fields are a compelling feature, but they are hugely limited and difficult to work with.
They have administrative limits;
And they have presentation limits;
You're probably trying to use them in a way they were not intended, and your world will be full of frustration.
Yes they do actually have valuable uses.
There are two main use cases where I find multi-refs valuable;
Present a non-essential attribute of your items, like tags.
EXAMPLE - I have a Blog, and each Article has tags like #tech #webflow and #figma. I want each of these to be clickable, so that I can display e.g. all articles about #webflow.
I'm not going to have a ton of tags, and I don't need to show them all in the main article list page, where they'd be displayed in a nested Collection List.
On the Article collection page, I can easily show all of them, because there the tags are in a regular Collection List rather than a nested one.
This is a good use case for a multi-ref field.
Display a selected sampling of related items, as a convenience.
EXAMPLE - I have a list of Products and I want to show a few of the most popular Variants. On the main catalog page, I want to list my 100 top product, each with up to 5 popular variants.
This works because again, the limit of 5 is fine, and next to those 5, I will place a link titled "See all variants".
In an [A] -> [B] => [C] setup, a CL bound to [A] cannot access [C].
A small part of this access limitation can be overcome by splitting the multi-ref field into a primary single-ref and other multi-refs field.
Advantages;
Disadvantages;