Not for sustained work. A multi-plier grips well enough for occasional jobs and reaches places full-size pliers cannot, but its short handles limit torque and its small jaws limit how hard you can bear down. Keep both: the multi-tool for away from home, real pliers for the bench.
Gripping force multiplies with handle length. A multi-tool handle is a fraction of a full-size pair, so the same hand force produces considerably less at the jaws. That is geometry, not build quality.
Hollow handles also concentrate pressure on your palm, which becomes uncomfortable quickly.
Reach and availability. Needle-nose jaws on a multi-tool get into spaces full-size pliers cannot, and the tool is in your pocket rather than in a drawer.
Integrated wire cutters are also genuinely useful, though they dull faster than dedicated ones.
Grip with the deepest part of the jaw rather than the tip. Jaw tips are where multi-tool pliers bend, and a bent jaw never grips properly again.