Currently we have our own redundant implementation for it, which can break in a few edge cases as vanilla will mutate the current BlockItemUseContext while trying to place the actual block.

An easy solution should it still exist in 1.17 would be to store the tile entity data into the BlockEntityTag NBT tag when being broken. This would cause it to automatically restore it once the BlockItem is placed again.

This might need an API break for the memory card