A client's e-commerce account had purchase, add to cart and begin checkout all set as primary, and Smart Bidding drifted toward cheap add-to-carts. Spend climbed while purchases stayed flat. My view is that only the purchase should be primary. Keep the other two as secondary so they still show in reporting but the bidder ignores them.
The counterargument is that micro-conversions help the algorithm learn faster on low-volume accounts, and that's fair if purchases are very rare. But with a few dozen sales a month, the add-to-cart signal is noisy and pulls bids toward browsers instead of buyers. How are others setting this up when purchase volume is low?