No. It's a very rudimentary token standard, without the extended smart contract possibilities offered by ERC-20. You can't do much more than minting and transfering them. Basically the same thing like Coloured Coins which exist already since 2013, only using Taproot and Ordinals techniques.

As any Ordinals NFT-type inscription, you need two transactions to move ORDI if you want to transfer or trade it. See here and here for other disadvantages.

This is the price evolution:



We can see that it had an initial hype taking it to more than $28 per token, then it crashed down to $2, then it went up in a spectacular bounce when it was listed on Binance to $27.50, and now is falling again.