Well, right (of course), but “Bounce to audio” is not a “freeze” function (in terms of workflow).
I mean, there are many ways to simply “get” audio. For example, Studio One has a very nice implementation of recording in real-time (“printing”) from a bus (it’s even nice, visually, to look at).
Another nice thing in Studio One, if one were to Bounce, is that you can quickly power-off all of a given track’s inserts with one button (for that track), rather than each insert, one-by-one (something not possible in Cubase). But, you’d still have to do that manually for every track.
I guess that’s not as important in Cubase since we can only have a total of 8 inserts per track. Ooohhhwww. BOOM. 
(Sorry, couldn’t resist.)
Anyway, Freeze (or “Transform to Audio” as Studio One likes to call it) is fundamentally broken in Studio One because of this; anytime a feature creates a situation of “data loss” without warning, that’s bad.
It would be like Adobe Illustrator “flattening” a complex vector object into an uneditable bitmap without any warning and with no undo.