I would say no. The BTC is really cool. Way better than just the X/VLPF tone control.
When using active EMGs, you might as well jump in and use the active EQ.
I have a BTS with regular, old school J5s on my Squier CV 70s J V Bass. I set the treble control of my BTS to the widest setting (1 off, 2 on with the DIP switches) and tend to just run the EQs at the center detent. However, with that setting, the treble control rolls off much like a 'typical' EMG tone control (which is also very similar to the VLPF), but can really boost some presence, if needed.
Plus, you get the benefit of the bass control. Using the bridge pickup with some bass boost has a cool effect: the tonality has focused mids, but still big and fat enough to support the band or mix. Or go the other way, cut some bass on the fly if you find yourself in a situation where things got boomy.