Total Cookie Protection is about isolating third party cookies/web storage, without breaking as much of the web as simply blocking third party cookies does.
For my case Total Cookie Protection is enough, but if you want the same protection of Facebook Container for every website (i.e. session cookies which are deleted each time you restart the browser) you can install Cookie AutoDelete or use the built-in option to delete cookies at restart (whitelisting websites where you need permanent cookies).
I think Cookie Protection does solve the problem that I used the containers for. I wasn't really using it to keep accounts separate, per se, but more to keep companies like Google from snooping and sneaking peeks at my other cookies.