This is what I do as well. Note that nearly every MacOS app shows a file or folder icon in its title bar if you hover the mouse over it – this icon can be dragged into a terminal to open the current file or folder there. Also useful if I e.g. want to grep something in a currently open text file in the terminal, or something like that.

(There is a system setting to always show this in the title bar without hovering, which was the old default behavior before Big Sur if I recall correctly. I’m a bit annoyed that it’s now hidden away by default.)