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The entire industry has standardized in having "typical" and "maximum" values decades ago. That problem there is completely self-imposed.

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The flip side of this is also dumb labelling. ‘Product may contain traces of nuts’.

Completely unhelpful to those that need the info.

That is in fact useful information to someone that needs that info, because it means they should never eat it. I think this is a bad example, because I have no idea what you're talking about.

Likely a reference to the recent addition of sesame to the allergen disclosure legislation in the US, and the subsequent rampant over labeling.

Nobody seems to remember a bunch of companies receiving rather large fines for pulling known bull-crap "may contain sesame."

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