I was reminded of this by T7812.
A couple months ago, bin/storage dump would fail for me with an error about max_allowed_packet size. I ended up adding the following to my my.cnf to fix this:
[mysqldump max_allowed_packet = 50M
Not sure what best solution is here. bin/storage could maybe set the option when it calls mysqldump (--max_allowed_packet=50M) or it could maybe this could be another setup warning (if the value of this param is even available to the instance).