It sounds to like you are describing the use of Life Capsules in Personal Historian.
The only real negative issue with RM's Shared Facts are that they are not a standard GEDCOM element, and so would not transfer well to other genealogy programs. But there are definitely RM users who like to use Shared Facts. I use only a few Family Facts, and those are NOT the same as Shared Facts.
My habit means including a separate individual fact for each person involved in a common event - your suggestion to use Shared Facts --- I don't know if I'd want to go that direction. But I also do not use Personal Historian, so I can't comment on the ease or complexity of generating stories with that program.