It depends if they also support mesh data, if not you´re bound to solid data, where you got .iges or .step for instance.
Many 3D Printers require parametric data and a closed solid model, although there are services that work with meshdata, but you still have the trouble of delivering a mesh the machine accepts. They´re kind of princesses there.
However, as Claas said, 123D is an alternative to the current tools many Designers have to use. Most engineers I work for, use Unigraphics NX or CATIA. They work with solids and parametrics, but that’s not even remotely intresting in this tools. Those abominations come with thermal stress simulation, vibration simulations, computational liquid dynamics, can calculate the whole structural analysis/static of a machine or part, have physical material properties, libraries for bolts and screws and stuff like that.
No Designer/Artist needs that - but they need/want the solid, parametric and nurbs modelling.
That´s also why Claas said “lightweight”.
If you compare tools, you got to compare them within their domain.
Sure you can compare the size of Blender against 123D - the problem is, Blender can´t do any of the things 123D. 123D comes with a functionality tailored specifically towards a particular user base with clear requirements. Most here never will have those requirements, and others might not know yet that they have them and struggle with their projects in Blender.
I also don´t need its functionality, but to me it is a great asset for collaboration.
It can open .step and .dwg and it can export .stl
Up to now I usually had my clients export their parametric stuff to meshdata, but either it took up to 20-30h because the exported all at once, or they delivered 2gb stl, vrml or obj files no normal tools could read or whatever and many of them have no idea that there´s a difference between their and my 3D models.
Often I just got the NX or CATIA files, and had to find one of my mechanical engineer friends around here with the right tool to convert it - which is a PITA, but you can´t use trails for commercial work, nor will you buy a few thousand dollar “file converter”
Now I can tell them just drop me the .step and I can export and convert how I need it, which in the end of the day makes life easier on both ends.
One could say, 123D is more meant for the artists and not for engineers.
And it is most likely free because compared with the other tools from that family its functionality is almost trivial.