Well if you look at the specs for polyphony, sequences, editing options, memory, you'd have a better idea. I'm thinking of getting one but not as a main tool, I bet somebody uses one to make everything though, why not.
From what I've read/seen, the sequencer on the mS is a bit too limited to make it a "mini workstation" as is, but combine it with any basic multitracking application, and the possibilities are endless.
Check youtube to see what it does and a few examples of its workflow. My YouTube.com/GriffinAvid channel has a few tutorials up.
Then visit the KORG forum for a heads up about early user experiences.
It's a MICROsampler so, no- it's not a sampling WORKSTATION.
It's not an MPC 5000 or MV-8800. IT doesn't sample chop. YOU sample chop as you sample. It doesn't show you the wavesample in its LED screen. It only does pattern based sequencing. There's a few minor niggles that cats have devised workarounds for.
Yes, you can make complete beats in it. The soft editor has a super-simple drag and drop scheme that makes making soundbanks easy. I would pair it with a software sample editor and or multitracker as Krushing said.