Common use case is receiving 2 mono tracks from a client that simply need to be panned hard L/R, exported without any inserts/sends, and reimported as a single ST file.
Bounce and Render functions create separate files for each selected clip/track–no good
Export Audio is overkill but is the only way I know of to combine multiple files into one.
For PC there is an app named Cleaver that does this, but that’s a separate app…
In Right click/Render Inplace/Render Settings; there is an option for ‘‘Mixdown’’ down at the ‘‘File Path’’ menu which consolidates all selected regions in to one file and puts on a new track.