No, for example if you and I have an out of balance channel and I needed to say move 2M sats to your side.  If I circular balanced that id have to do any times with dozens of htlcs scattered all over the place while the two channels I'm trying balance may get there, all the other channels that use get screwed.

If I swapped in it would be one payment between you and me, would be atomic and if we used Liquid, it might cost a few pennies.