Sure, but it doesn't always work and isn't very organized. My point is that you already organized all of those photos every time you shared them. So why not capitalize on it for future photos without additional effort?
The other thing is that it isn't straightforward to pass on existing photos to children. I inherited boxes of photo albums and VHS tapes from my childhood, but it's a lot more complicated to share a whole bunch of memories with future generations; adding a placeholder to a bunch of albums that someone else can inherit later just makes more sense to me.