Heritability IMO falls into the same bin as "standardized/relative effect sizes" (e.g. correlation coefficients, Cohen's d, odds-ratios, "explained variance", relative risk, etc), in that a division / re-scaling is introduced to supposedly increase interpretability, but, in reality, this has precisely the opposite effect.

Heritability is a bit worse though because the variance is partitioned into three giant piles of mush, at least two of which piles are very poorly measured / controlled at all.