The honest answer depends on what you mean by good. Bands hold up well on some questions, lose on one, and have not been properly tested on another.
What the research supports
General strength. A meta-analysis comparing elastic resistance with machines and dumbbells found no clear difference in upper or lower body strength1. The authors concluded elastic training can give similar strength gains1.
Early training. In a short trial of sedentary middle-aged women, bands and weight machines both improved fat free mass and function, with benefits the authors called comparable2.
A heavy one rep max. Here weights lead. A meta-analysis of low and high loads found greater one rep max gains from heavy loads3. That trial evidence was not about bands. It tells you that if you want to lift the most you can once, you need heavy loading, and bands make that hard to reach.
What it does not settle
The band meta-analysis is smaller than its headline suggests.
- The groups were mixed. They ranged from soccer players and students to heart and lung patients1.
- The trials were short. They ran from about four to twelve weeks1.
- The quality was limited. The authors themselves described the published studies as low quality and few1.
- It measured strength only. Muscle size was not analyzed1.
On muscle size, the best available argument is indirect. When sets go to failure, growth is similar across low and high loads3. That suggests a band can build muscle if you work close to your limit, but those trials did not use bands. A search for this piece found no direct comparison of bands and weights for muscle size in trained lifters, so that question stays open.
Where each one wins in practice
This part is a coach's reading rather than a finding. Weights give you a number. You can add a known amount and see that you did. A band gives you no honest number, because its pull changes with the stretch. You progress through your own bands, lightest to heaviest, by reps and form.
Bands win on cost, space and travel. If bands are what you have, train with them and train hard. If you can reach weights and your goal is maximal strength, use them. Many lifters will do well with both.