I definitely agree with that statement. I think the big value in this would be in creating containers of linework or objects that you quickly select and apply the change elevation to.
Short term
I guess this could be accomplished with selection sets. I will have to try this. There is no option to select by selection set in the select options though huh? I think this could be valuable.

Long term
I think a place in the project explorer would be beneficial down the road because you could:
- Create vertical designs and run this
- Run takeoff surfaces
- I add all of my model data to the take off surface because I find it easier and you can create a shortcut to rebuild the takeoff surfaces
- Run the "drape" command to take care of everything else.
Similar to the logical of the vertical design tool; step 1, step 2, step 3, etc