No! I would recommend you assess which is your priority & invest in that. You can make a rivnut tool relatively easy & although I have a rivnut tool, I wouldn’t contemplate using the dedicated tool on a larger nut. Once you have enough leverage on a rivnut tool to collapse the thread tube, you wouldn’t have the finesse required to feel a pop rivet tighten & the mandrel snap.
I don’t need to tell you that rivnuts are available in aluminium, mild & stainless steel, collapsing an aluminium rivnut is relatively straightforward, try using a “standard” tool on a stainless nut is an order of magnitude greater.
I hope that makes sense to you & whoever else who might be considered such a purchase. I can’t pass over heavier duty rivnut tool without considering replacing my original but still can’t justify it.
As far as standard riveting tools are concerned I use a Masterfix (MFX150?) & an early King Klik; for fatties I use an Eclipse lazy tong unit, I have a second but I can’t recall it’s make, the eclipse is my go to.
M