Belated reply — I really struggled with maintaining verticality on my cuts when I did my first guitar with help from one. The fret slots were very V shaped you’d need to clean them up manually.
Luckily for my inlays I was using resin and black sand so it was easier to fit things, but they had a similar trait and a solid inlay material would be a hassle. I also struggled with charring when going thicker, which was a relatively thin layer, but I’d be planning to sand or flush trim a bit anyways.
On darker hardwoods it’s worse and can really burn to the point it’s out of spec, another student at my high school had that happen, but even just on maple I had to try twice after the first one really cooked the wood in ways I didn’t want. You also have to account for the thickness of the cut, which can be unpredictable as the heat spreads and burns away the material. (Or in plastic, melts.) It’ll have a nominal value that is quite thin, but it can and will shift depending on what you’re doing.
I think it’d work really well for a quick and dirty start tho — a line to cut to, some lil dots for brad point bits, and a starting line for fret saws so you don’t need a template/calipers/etc. You can also always engrave a headstock plate then fill it with resin or gold leaf or something, like this build.