It’s the #1 choice if Retrofitting is the only option/most suitable option. We don’t know the OPs situation.MLV is an interesting one for sound isolation. It does work, but it’s massively outclassed in terms of performance and cost by drywall. It’s only real benefit in terms of isolation is that it’s easily retrofitted into an existing space without needing to get into actual construction.
As an acoustic treatment it really only works when constructed as part of a Helmholtz resonator. It’s largely ineffective as a bass trap if it’s just suspended in free air.