@o0OBillO0o
You can't compare your solution with the effort and investment of purchasing a simple NAS. I have tried and used the Synology series (that do a great job alltogether) and the WD MyCloud series (that are really extremely easy to setup, even easier than the Synology, but has less functionalities). The config you have is about four times more expensive I'd say. Only the iSCSI licences is 89$, for each Apple computer that will access the NAS? This may be a good professional solution, but not for a family network.
The examples I provide are cheap, plug and play solutions for home networks, that available for anyone, easy to setup and to use.
But stupid Itunes always loses the network drive. This is the error #1 that's at the core of so many issues. Also stupid Itunes always recreates a library when it sees one is missing. This is error source #2 (because after you eventually notice it you need to 'consolidate library', another major source of writing errors). The combination of these two errors gives us horror stories, just because stupid itunes always tries to proceed, regardless of the missing drive. One does not understand why Itunes is not designed to ask where is the missing drive while stopping all tasks, rather than trying to patch it up regardless of the missing drive and messing up the library consistency instead. This is obviously bad design.
One can also reasonably wonder why Apple has not designed the Timecapsule (which is 'only' double the price of a comparable size NAS: Synology or WD MyCloud, but it is still 'affordable') to host the Itunes library. Also Apple does not specify anywhere that you are about to enter a world of pain and frustration if you start using a NAS with itunes. So please don't give forum users the wrong impression. Globally speaking the statement remains: using itunes with a (normal/basic/reasonably priced) NAS solution is a nightmare.
BTW: After trial and error I have found that if you manually manage the files (i.e. store them at the appropriate location on the NAS yourself) and untick the box 'keep the library organised' you reduce risk errors, because you don't allow itunes to write to the NAS (except for writing some tags to the files such as cover art - but it will not create folders on the NAS and move files around). This mitigates a lot of issues, but is not a satisfying solution.