Your points about printing to pdf are well taken. I use that quite a bit on Linux. I also print to postscript a lot, because I have tools that will let me do a lot of things to it later like reorder the pages for booklets and such. I really like the portability of PDF files, the only drawback being that unless you have Acrobat, you can’t edit them.
Bug, or feature? PDFs let you send along filed in a read-only format, and if you have the original source document, you can always make revisions. But you do raise the valid point that that Apple print driver only includes in a PDF what you can print -- you cannot, for example, add hyperlinks. There's still a market for the full Acrobat package.
If you have a Mac you can rotate, delete and reshuffle pages from the built-in viewer, but there are still things you need Acrobat for.