Does the Artificer’s Spell-Storing Item effectively bypass the bonus action spellcasting rule?

The rule on Bonus Action Casting Time states:

A spell cast with a bonus action is especially swift. You must use a bonus action on your turn to cast the spell, provided that you haven’t already taken a bonus action this turn. You can’t cast another spell during the same turn, except for a cantrip with a casting time of 1 action.

This would ordinarily prevent you from casting a levelled spell and a bonus action spell on the same turn; however, the Artificer’s Spell-Storing Item states:

[…] While holding the object, a creature can take an action to produce the spell’s effect from it, using your spellcasting ability modifier. […]

Furthermore, the following question’s highest-scoring answer states:

  • Do class or subclass features that relate to spellcasting apply when producing a spell's effect from an Artificer's Spell-Storing Item?

[…] The user never casts the spell either. They merely use a (special, unnamed) action to produce the spell’s effects. They don’t cast it and don’t get to modify it with their features which care about them casting a spell. […]

And the Sage Advice Compendium even states (page 3):

Q. Which action is used to activate a Spell-Storing Item?

A. Activating a Spell-Storing Item uses the Use an Object action.

Does this mean that a caster could use a Spell-Storing Item, creating the effects of any 1st or 2nd level Artificer spell with a casting time of 1 action, and then use their bonus action to cast any (bonus action) spell?

Can the artificer’s spell-storing item affect a Rakshasa?

My character is being hunted down by 3 Rakshasa. The character is aware they possess limited magic immunity which reads as follows:

Limited Magic Immunity. The rakshasa can’t be affected or detected by spells of 6th level or lower unless it wishes to be. It has advantage on saving throws against all other spells and magical effects. [Basic Rules, p. 341]

As a level 11 Artificer, I can store spells into a Spell-Storing Item.

Spell-Storing Item

At 11th level, you learn how to store a spell in an object. Whenever you finish a long rest, you can touch one simple or martial weapon or one item that you can use as a spellcasting focus, and you store a spell in it, choosing a 1st- or 2nd-level spell from the artificer spell list that requires 1 action to cast […].

While holding the object, a creature can take an action to produce the spell’s effect from it, using your spellcasting ability modifier. […] [ERLW p. 58]

Since the item is just "producing the spell’s effect" should it be treated as a magical effect instead of a 1st or 2nd level spell?

Is the Rakshasa immune to the spells produced by the item? Or would they just have advantage against saving throws?

Spell-Storing weapon + Magus’ Spellstrike

Okay, I’ve seen a few questions about this but not the exact question I have so I figure it’s reasonable to ask.

Let’s assume the following situation, I have a magus with a spell-storing weapon with, let’s say, Frigid Touch stored in it. I enter combat and cast Shocking grasp using my standard action, move to my target and use Spellstrike to take the free touch attack I get with Shocking grasp to deliver the spell through my weapon.

Assuming I hit, I deal weapon damage + the damage of Shocking Grasp, let’s assume a 5th level magus wielding a rapier and say this is 1d6 piercing + 5d6 electricity.

As I have hit my target with my weapon and dealt weapon damage, can I now use a follow-up free action to discharge the stored Frigid Touch using the Spell-Storing element of the weapon for an additional 4d6 cold damage and a chance to stagger the enemy?

Or do I have to choose to discharge the stored spell OR use Spellstrike?

Does an artificer’s Spell-Storing Item bypass the need for costly/consumed material components?

Suppose I am an 11th-level Artificer with a +5 intelligence modifier, and I use my Spell-storing Item feature to store Continual Flame, whose material component is "ruby dust worth 50 gp, which the spell consumes". However, it’s not clear whether producing the spell from the item requires this or any components at all:

While holding the object [in which the spell is stored], a creature can take an action to produce the spell’s effect from it, using your spellcasting ability modifier.

The usage of the item appears consistent with the usual rules for casting spells from items: activating the item to cast the spell is an action, but that action is distinct from the "Cast a Spell" action and doesn’t require components. However, if this is the case, it seems that I can use Spell-Storing Item to produce 10 Continual Flame torches (or Arcane Locks) per day without spending any money at all. Does this work as described, or is there some reason that the spell-storing item would require the costly component in order to cast the spell?

Can the artificer’s spell-storing item store their specialist spells?

The artificer’s “Spell-Storing Item” feature says:

… you store a spell in it, choosing a 1st- or 2nd-level spell from the artificer spell list that requires one action to cast… [ERLW p. 58]

Each of the artificer specialists has a supplemental set of spells which says:

These spells count as artificer spells for you… [ERLW p. 58, 59, & 60]

If your specialist spells “count as artificer spells for you,” does that mean they’re now included in your artificer spell list, so may be eligible to be used with the spell-storing item? Or because the text refers to the artificer spell list, is only the base list eligible?

The following are the spells that would be allowed in the first interpretation but not in the second:

  • Alchemist: Ray of Sickness, Flaming Sphere, Melf’s Acid Arrow
  • Artillerist: Thunderwave, Scorching Ray, Shatter
  • Battle Smith: Heroism, Warding Bond