I haven’t played this guitar in a bluegrass band setting, but I’ll give you my take on your question.
I think it all depends on your playing style, the makeup of your band, and the sound you’re seeking.
Remember that Richard Hoover originally created the Vintage Artist specifically for Doc Watson. (I believe it was to be called the Doc Watson model, but Gallagher got there first, so Mr. Hoover graciously decided to call his new model the Vintage Artist)
Doc didn’t play in a bluegrass band, but he was all over the neck of his guitars, and that’s where this guitar shines. Every note, every string, every fret up & down is balanced and musical. I think that’s partly why these are so popular with session players.
If your bluegrass band requires the kind of rhythm guitar support of, say, Jimmy Martin (a G-run that thunders like a summer storm in Indiana), this may not be the guitar for you. You want the closest sound you can afford to a vintage D-28, to give you that iconic whoosh of air that weakens the knees of anyone afflicted with a true love of classic bluegrass.
Is it a great lead guitar? Absolutely. Clarence White, Norman Blake and David Grier each made remarkable records with an old D-18, clearly one of the inspirations for the Vintage Artist.
I hope this will help to answer your questions.