I can see the logic of using a layout like a hardware mixer, it's nothing if not intuitive, but it has its downsides.
Let's say I want to add a modulating, panning delay to a guitar track. Something I do fairly often as it happens.
So I create a bus and a track send to it, put a delay on the bus and set it 100% wet, follow that with chorus/vibrato/phasing/whatever then put an autopanner after that. Sure, there are all in one plugins that can kind of do this but not with the flexibility and combination of components I want.
Add other busses to other tracks for similar purposes and that busses section starts to get rather full, with busses feeding busses as well just to complicate things.
It would make far more sense to have that bus (or whatever you want to call it) sitting next to the guitar track it applies to in a track folder.