Sensorless homing is accurate to three or four full steps. Works great for things where the last tenth of a millimeter doesn't really matter, like X and Y on a 3D printer. You'll find that printers that stall detect x and y still have a probe for Z.
This would probably be OK for a laser X and Y in terms of being in one corner of the bed, etc. Probably not accurate enough for Z (focus) repeatability.
It would NOT work for, say, a home, cut, home, engrave sequence. Or a multi-pass cut that had home in between. It would work fine for a cut then engrave without a home inbetween, or a multi pass cut without a home.
So, it depends just a little bit on how you intend to use it.