Not at all, my chocobo if set to tank pops at least 1 or 2 cooldowns after pulling the whole instance. If set to healer, at least once in a while it casts cure/regen/medica and dps. if set to dps, at least it does the dmg it's supposed to be doing without that I have to carry it. So yes the chocobo might stand in a couple of aoe's, but it makes up for it at the end, compared to players via PF or even DF, that's not something you can count on.
