While that might kind of work, the bigger problem is that embroidery fonts != fonts. You can certainly make fonts but you cannot be sure they will work well with embroidery unless they are basically specially designed for embroidery. Which is to say they predefine the satin stitches used to make the glyphs, which is itself more information than the glyphs themselves have. Take the letter "A" for example. The raw glyph data will be the outer line of the A. Then inside that in counter-clockwise order the "A-hole". But, how it is embroidered is typically by using a satin stitch, in a rather specific sequence predefined within the embroidery font.

Notice that the font starts in the lower left and ends wrongly in the middle. The point is that the areas are very typically broken down into sweepable polygons and then given a method by which to connect one font element to the next, usually with satin stitches. Which means they often don't fill areas per se, but rather fill a small envelope of area with the typical embroidery adjustments for turns during a satin stitch.
The SVG assignments for glyph objects is going away shortly. It's being removed in SVG 2.0 with preference for WOFF. And all Inkscape is doing there is the kerning of the glyph objects. There's a series of rather major stumbling blocks here.
Embroidery fonts typically define not simply the outline, but how the object can be filled with stitches travelling in a particular path, and how to connect the disjointed path areas together. Not simply at the letter level but also the word. There are a number of embroidery fonts which also define where and how the jump to the next letter can be made, with minimum distance.
It's for a lot of these reasons that my own implementations of this stuff simply has at most a programmable stitch that can be used to write letters in a given sequence.

It's actually a lot more to embroidery fonts than there are to standard truetype fonts. In the former case it must encode in what order should one do the positive elements of the font and how. You could likely get the glyph data, and sew the outline of them. Or maybe get an SVG program to not save the font data in the SVG but rather display the actual glyphs themselves and thereby sew the outline, with an unreasonable number of very short stitch sequences and cuts.