There's a pile of "it depends."
Are you going to be using the rebuildable on the MPV2? You know you have to stay above 1.3 ohms - give or take a bit - with an MVP. It's not built for lower resistance than that. It will automatically either roll back wattage or just shut down if you try to push builds lower. Some people do get away with 1.1 ohm
coils on an MVP BUT: it's not built for that. Even if you got an MVP that is working with a 1.1 ohm coil, that doesn't mean you aren't risking frying the electronics or the wires to the 510 connector. An MVP isn't a sub ohm toy.
So, if you are building for the MVP and are going to stay above it's limitations, then the ohm checker built into the thing will be fine.
If you are planning on doing 0.4 ohm builds for a mechanical and using the MVP to check the resistance - I wouldn't trust the accuracy of the thing below one ohm.