This is exactly my thinking. I can't afford dedicated rigs, so I have one that does everything.
The rig I am building now will be dedicated but not for severe off roading. The reason it is dedicated (for OB uses) is because everything is so expensive I don't want to wear it all out doing DD duties. Off road tires are not meant to be used on Interstates, the rubber compound is softer and wears faster, and a lot more expensive than street tires or lite duty a/t tires. In some way or another each of my 4 vehicles has a dedicated assignment.
I have a truck (1967 3/4 ton International) that is used for hauling garbage to the dump, nothing else.
I have an older 1984 4x4 Dodge Ram 250 pickup that I use for hauling things that my DD will not haul and use it for local off road use in the boonies. 10 mpg does not lend itself to being my OB rig.
Finally I have a 2008 Ford Escape 4x4 (the tag says) that is full time 4x4 without a low range transfer case. That is my DD and sometime light duty (maintained dirt roads) rig for going fishing, hunting, and pulling my Scamp over to the lake 60 miles away for a few days of leisure but not in last 20 years and not with this rig. I had another road car that I used 20 years ago . I lost it 6 years ago when I got T boned on a trip.
I guess I'm spoiled but that's the way I have been with cars for as long as 1962 when I finally was able to have a family car and a pickup or Bronco for my uses.
The biggest atvantage to multiple cars is that you dont put a lot of miles on any of them, so they last you a long long time. I get attached to them like my dogs.
One of these days I will lose my old Internation. She is on her second moter, new 25 years ago and now has 25,000 miles. The rest of the truck had 325,000 miles when I put the new motor in 25 years ago.