Umatrix gives semi granular control over individual classes of loaded assets sorted by class and source.

To answer your point directly, no. uMatrix can block entire (sub)domains, but it does not import ad and tracking lists to block individual scripts. Therefore, both are needed, because most of the time you want ads and tracking to be automatically blocked, and sometimes you need precise control over what content from each domain is allowed. Different tools for different purposes.

I like to use uBlock Origin's element picker to remove parts of websites that I don't want to look at. I don't think uMatrix can do that, although it covers the most basic adblocker functionality.