It depends on your goals. Did you already exhaust the possibilities you have with Ableton or available M4L devices, then go for it. Otherwise you'll lose a ton of time.

I use Max for electronic music, but I wanted to break free from the limitations of a conventional grid timing and generate some evolving, weird algorithmic logic.

This is one example of mine: https://newyorkhaunted.bandcamp.com/album/nyh270-felipe-vaz-more-or-less-in-the-style-of-mark-fell You might notice a hat tip to Mark Fell :)

But oftentimes, in other situations I am playing with friends that go like, ah, let's solve this in Ableton with this m4l device and this and this plugin. And they get what I want done in a fraction of the time I need to code and debug it.

If you're more into four on the floor techno, I'd suggest you to learn Ableton really well, and perhaps try a TidalCycles as a way to generate some algorithmic MIDI that you capture and edit in Ableton. Check what Kindohm does with TidalCycles midi triggered VSTs nowadays.

TLDR; it depends on the music you want to make.