that's exactly right, unfortunately. it's a bit of the wild-west the it comes to plugins/VSTs in terms of distribution.
and I agree, this feels like the sort of thing that should be pretty solvable, but I think there's a lot of hidden complexity in this problem space. Solving the "version control" aspect of this feels like it should be rather straightforward for a single user, involving multiple users with different Ableton Live versions, different plugins/VSTs (and different versions within those) is where things would undoubtedly get messy.
I do think there is a niche market for this sort of thing, however.
You will find applications like this one, https://www.pluginhubapp.com, show up frequently to try and manage this complexity. I am in no way at all recommending this application, but it is an example. This application does ship with all of its python code in the app under (possibly a mistake) so you can see the hoops they have to jump through to try and make their system work.