I would just like to add that editable transclusions (embeds) would not only be a convenience for current workflows, but I think it would actually really open up some additional interesting and useful workflows.
RemNote has “portals” (essentially editable transclusions) and it has become a way to not just pull in relevant information from multiple sources, but also a new way of creating a kind of flexible hierarchy of notes separate from bullet points and links/back-links — imagine that each embed is a “child” or “belongs to” the note you are currently working in.
If that is to become one’s primary method of organization in Obsidian (which I think I would do) then there would have to be a few other simple supporting features:
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ability to toggle collapse of embeds
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create embeds with keyboard shortcuts
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in the backlist pane, potentially include titles of notes a note is included in as part of the context