Yes, several reasons!
It's much more resistant to airflow than regular duct, so the fans will have to work harder (using more energy, so also louder); condensation can gather in the undulations leading to mould growth; it's not very resistant to being crushed, punctured or ripped; due to these problems it can't be really cleaned internally, should that be needed. The only legitimate use is when using a very short length - e.g. 150mm long for 150mm diameter duct - to connect rigid duct vertically to the MVHR unit, though that seems to be rare.