I've always viewed multitools as "in a pinch" objects: Not the perfect nor most comfortable tool for the job, but super handy because they're always on you. Their key utility is saving me a walk back to the truck, shop or shed, which makes it worth having to screw or unscrew a fastener a half-turn at a time.
It only works with multitools that have the large bit driver, and it doesn't integrate with the tool when folded up. But it does have a magnetic bit holder that will take standard 1/4" bits, and it is three-way (i.e. tighten, loosen, locked positions).
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Will put this in the category of "Would be happy with as a gift, but probably wouldn't actually buy." With no built-in way to store or attach it, my key worry would be that I'd lose it. I'm sure it's just a matter of time before we start seeing people's DIY 3D-printed clip-on solutions.