VLC is a media player first and foremost. There is no library management, aside from playlists, usage of tags is very limited, no rating system and VLC is best at playing a file directly from a folder as opposed to helping you manage or find good songs in your music library.
Useful for game development frame debugging. Your average user won't need this. VLC has frame advance, but it's hidden and non-intuitive; I'm not sure if VLC can step backwards, I don't think it can. So, MPC-HC is better in my book for that functionality.