Welcome @0584265c !
Does it work? That should be the primary criteria. Any solution that works is infinitely superior to all solutions that don’t.
We do something like what you’re doing, only we do use nested formsets.
See my description at Multiples of one formset - #12 by KenWhitesell
While our current implementation is limited to 3 levels, that’s a business requirements and not a technical requirement. It could be expanded deeper than that.