It is how Carlson/AutoCAD creates point blocks I believe. They create these points as actual blocks and they don’t convert into TBC.
It would be great if we could get a TML that would allows us to select point block, set the layers for id, elevation and description and this would then create points in TBC. Perhaps with the options to add a prefix to the point id as well. Sort of similar to create points from spot elevations.
Here is a similar situation where this would have been useful:
Points From Blocks.
In this case the user was just looking for elevation so we were able to come up with a relatively easy work around uses convert spot grades to point but this does not retain id or description, just elevation.