That seems unnecessarily limited. You can route anything *to* the FX, including a channel direct out, leaving the FX send empty. You can route the output of the FX anywhere, including directly to an output. I suppose I could run through a bypassed effect and out that way.
You can do this by routing the FX return to an output, then using a normal input channel as your actual FX return. You will then have both the internal effect rack and your external effect in series, so just don’t add any FX processing on the internal rack, or set the blend to 100% dry.