I've been thru' 3 different "paradigms" of multiFX use.
I started early on with a Korg A4 Bass. Back then my sound was 100% clean, so I really used it for effects, mostly modulation effects and delays. Also went thru' the Boss ME-8B, nice gadget, got the taste for synth bass with it. Also owned a Zoom BFX-708 and a Boss GT-6B in this era.
Then I switched to carrying my uneffected tone in a preamp (SansAmp RBI). I still used a clean tone, but kept using multiFX, even tho' not as intensively. Went thru' it with the aforementioned GT-6B, then a Zoom 708II, also a Zoom B2.1u.
Then I started to play more punk/HC/metal, consistently using a pick. Since then I've mostly been using a fixed tone. I cranked up the SansAmp gain for some time in the beginning (with an added compressor and para-EQ in my rack). Then the Zoom B3/MS-60B/B1on generation came out and since then my SansAmp did never again leave my studio. I've been using multiFX as "my tone in a box". Most of my patches consist of SansAmp emulation+compression+EQ (when needed)+noise reduction (mostly when dealing with higher gains). I have a set of "clean" SansAmp (my fingerstyle tone, not too clean really), dirty SansAmp and a Darkglass'ish dirt for each of my basses. I plug in any amp and have my pre-baked tone there with me. I use the EQ in the provided amp (or one of my own) to adapt to the room. I've used Zoom's 708II, MS-60B, B3, G1Xon (hacked with added bass FX) running this scheme. Also own a B1Xfour, which hasn't seen live use yet, but eventually will.
So, I went all the way from clean tone hardcore FX user to fixed fat crunchy tone dude in a matter of a mere 30 years and multiFX served me well in every scenario. I'm pro-multiFX. I've been able to sound any way I like thru' them. They've been capable of sounding great maybe for the past 2 decades as long as I invested the needed time tweaking (mostly in the beginning, there's a fluidity to be gained in their operation, of course). You have to be into navigating menus and params, tho' not for everybody.