Your appraisal is correct. LT’s multilingual support is severely lacking insofar as it simply doesn’t exist. This is something that will need to be corrected in the future.
I would like to draw more attention to talk of file sizes. When it comes to size, I don’t think that GBA can be beaten. Both Tactile and LT suffer from filesize bloat. I would expect SRPG Studio to suffer from the same problem, but I’m less familiar.
On an adjacent topic, I would point out that LT is not optimized for performance, although I’m hoping to make improvements to that in coming months. I don’t know what the situation is with Tactile and SRPG Studio, but I would expect the latter, being a professional tool, to be acceptably performant. I doubt that you can physically buy a machine in 2022 that can’t run most games from all 3, but at the fringe it may be something to keep in mind.
Of course, GBA has no equal in this regard.