In addition to the previously mentioned issues, or to maybe emphasize a few which have been a bit downplayed,

1) The friend has to have been on your friends list for over 72 hours. So gifting a brand new player who is a friend their first glam, or getting a story skip for a brand new alt your friend made just became incredibly difficult. You know that friend you sent the songbird dress, so that they could make an alt on your world for your bonding? Can't do that anymore. I mean, yes, people can go to a bonding in starter gear, but I always thought it was nice to gift the maid of honor a dress or something for a friend's bonding if they were from another world. Now I can't do that.

2) Squeenix has full discretion to delete any gift given in a manner they deem suspicious. So for example people creating wedding alts could appear very suspicious if you were to gift some of your friends glams for a bonding. Or if a friend goes and buys a bunch of Christmas presents, the fact that they're giving multiple gifts at once could also appear suspicious. Or say you receive a large amount of different gifts as bonding gifts, on a date that doesn't coincide with a holiday. If squeenix finds it sus that you got a bunch of gifted items all at once, they can vanish. Out of nowhere, even if you've already opened and used them.

3) The items they have chosen as "items which can only be used once" are not the only items that can only be used once. Story skips, class skips, all glams, basically EVERYTHING except for dye, housing items, and retainer skips can only be used once. And yet you can still gift story and class skips and most glams. If we're talking items that can only be used once per player (like most mounts) that does not include minions. Basically this is completely contrived. Squeenix has no problem allowing you to accidentally send yourself a glam you already have, but sending someone a minion they already have is not ok?

Wouldn't it be more logical to simply clarify the purchase method? Make it so you can only purchase gift codes with credit cards or other payment methods clearly registered in your name, and then track what payment methods seem to be buying an unusual number? Track the numbers to punish the perpetrators rather than preventing people from being kind to their friends.