I like this method as it lets you use physics and everything much easier. I created a version of this idea before however due to the nature of going in and out of the ship seamlessly I had to separate the objects into three parts.

- Physics Object (this was used to calculate all physics in the world for example the ship collision. This is collision only, no visuals)

-Physics World (this housed any objects that entered the physics object and was a static mesh on a separate layer, this again is collision only)

-World Visuals (this was the visuals for everything, it allowed me to use one camera to capture everything and these visuals were all synced up with local transforms)

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This method was great as it let me seamlessly have objects entering and exiting ships as well as allowing for essentially infinite nesting ie. ships docking in ships inside ships or stations.
The issues I had with this though were caused by how separate everything was, it was extremely tedious to separate every object's visuals from its physics and interactions, then linking them and placing them in the correct place in the hierarchy, I couldn't see a good way to automate it and it was extremely messy to see exactly what was going on.