Possibly stupid question: why can’t the metadata be exported and imported? Is there other metadata aside from the exif data? Or does Apple not export all of it?
And in case you’re talking about additional features like face recognition, doesn’t the app do that again once you imported the jpeg?
Im not in Apple ecosystem at all, so I don't have an answer to your question.
But in RAW/JPG world, the metadata and edits is already a solved problem with Sidecar files + EXIF data. Sure, EXIF fields are kinda messy but I'm sure it's better than Apple has rolled by their own.