It's fine if BMI breaks down at the 99.99th percentile, doctors can use their eyes.
'weight (lb) / [height (in)]^2 x 703'
and all the talk of "it's the cheapest and easiest way" ignores the fact that we could add other cheap measurements (like hip and shoulder circumference, or Age) or we could reexamine the formula without adding new variables to make it better.