I’ve tried them, built an upper around one, and was less then happy with the outcome. Not saying the 15-22 is better, but it can’t be much worse.
Equal function for l;ess cost. Conversion is simple and quick. BUT, my bedside rifle is an M&P 15/22 loaded with Velocitors which ammo I have tested extensively through it and trust. I have a laser mounted in front of the frotn sight, to use for point shooting, and a flash under the foreend. I have made a double mag side-by-side giving me fifty rounds ont he gun. If I don’t stop a threat with that I have a shotgun and an AR15 nearby. My bedside pistol is a Taurus 92 AF with eighteen round magazine. BUT I trust that M&P 15/22 if I have time to grab it first. Reliability is equal to the 1022 and easier to clear if a cartridge misfires.