The short answer, as Donny said is it's "done all the time", ... although NOT necessarily by all arranger kb players ... even some that are on this site ....
but, as Donny said, you lose some flexibility with the SMFs, even if you can put 'markers' to go back to the bridge or chorus, whatever ... Depending on the type of music being played and the venue, you could have a situation where you are near the end of the tune and people decide to get up and dance, and you want to play another song in the same genre, tempo, etc.... depending on your kb, set-up, etc., you may not be able to while using SMFs without some 'dead air' ... using 'on board' styles/rhythms allows more flexibility for this ...
Also, some drummers do not want to (or CANNOT) play with an SMF ... "too rigid" ...
On the plus side, a good SMF or backing track can provide the backgraound to a tune that people are used to hearing ... Again, it depends on the product you want to present ...

t.