It's better than ACS of course, or at least sometimes, but it rarely gives credits to a player if he loses a game.
Compared to the csgo rating, you see a player with high rating (1.5...) and loses, on vlr you don't see that you can drop 30k have 300+ acs and you'll get 1.15/1.2 compared to the enemy who will have higher rating if he just gets 20k for example, which is not really fair.
Maybe it's still in an early phase and hopefully we get that fixed.
(There's many examples of that, but on the top of my head the Victor split map vs MIBR he dropped 30 and was very impactful and had 1.15 rating compared to 2 players from MIBR who weren't as good and got higher rating, and it happens so often)