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Construction is a bespoke non-factory manufacturing process. If you extend the metaphor:

Estimating large projects is a big construction projects. Those tend to be large buildings and relatively on schedule. Estimating small projects with small teams is bespoke. And more likely to go off schedule when the plumbers can't time well with the electrical services, i.e, you have a dependency on another teams API or something, similarly to how software struggles in small team open ended scope projects with unknowns. But a tightly scoped single-trade software project won't struggle just like construction.

In end, I agree with you that construction is a decent metaphor. But construction is very far from manufacturing a widget, as it's a bespoke manufacturing process with ample site specific constraints




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