Not compared to a dedicated multitrack recorder like that. Not at all. MPC has only stereo in, so at most, you would have only two channles to record at once, or one stereo. You could do multiple recordings and place each take on a separate audio track and then have a mix that way of course, and this would mimic a multitrack recorder, but as I said above you can only record one stereo at a time. So, yes you can do it, if you record each track, one at a time, but compared to 4 -16 channles at once, you can see MPC is not really multitrack recorder at all. Really you need both IMHO
So if you want to stack multiple takes then your ok, as you can stack the audio tracks and even resample them as a take, to bounce down, but the main consideration here is that the MPC will not have enough RAM to store that many tracks, specially if they are stereo, compare to a dedicated hardrive there is no competition at all. And effects to, that is something you should consider as well if you want to compare them. hope that answers your question