It does!
Downside is that you can end up with a bad / imperfect connection, which can result in a bad .bin (reading) or a bad flash (writing)
Removal of the IC is always more ideal when possible.
If you absolutely must use the clip, I recommend reading two .bins, reseating the clip between each read, and comparing the two in a hex editor to ensure you’ve actually gotten a good read.
Most flash tools will have a verify step to ensure you’ve actually written the right data.
I didn’t suggest anyone reseat the clip between each step.
I’m recommending that this sequence be performed twice, reseating the clip before the second run, and performing a comparative of both .bin backup files.
The imperfect mature of these clips opens up the possibility for an imperfect read. Depending on the system, you may meed information from the original BIOS so you really don’t want to be stuck with a bad backup.