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• Name conflicts: Currently you only supply a property name. It can eaasily happen that multiple content items have the same property name, and you might get things resolved not in the way you intended. For example if you have an "image" property - you might want to handle it differently in different components, but this is not possible.
• The REST response returns the entire content item, where you might only want a few properties. (Like in a page.)

Ideas

Configure Reference Resolving at the Component instead of the Rest Endpoint

Currently, you configure references on the delivery endpoint. But in the case of Pages Endpoint this is awkward because it means the REST endpoint needs to "know" about the components being used, it needs to anticipate all of the different components that could be on the page. But this is a strange dependency. If you add a new component, then you might need to update the endpoint to match it.

I think it would make more sense to configure any references to expand directly on the component itself. The component includes the rendering, so it would make sense that it could define which properties are references and should be expanded.