blender can create 3d printable STL files, so if we're "thinking Blender," then that implies we can 3d model for printing, if i understand what you're saying
That said it looks really cool and I would definitely print something made with it. Trying that out now, actually.
Parametric models such as Solidworks or Creo use complex equations to derive the 3D geometry. Geometric models use a point cloud built from polygons to develop surfaces. These point clouds are defined by the user and are not as "stable" when used in product development setting where you are trying to create multiple iterations/sizes of an object
But it's true that model history is preferred for mechanics, but I have seen some proto model history in 3DS max with the modifier stack.