For a family site, probably. If you are selling a service or running a company, a free hosting site with banners, advertisements, and more, would look rather unprofessional.

Opting for web site design and hosting at a small fee, and using a web site builder, or free web site templates, would make even a small business look professional. This is especially true for the home business. An unprofessional, amateur looking site is a turnoff for people looking for a product or service.  They may not be as willing to purchase from you as they might from a site that looks professional.

As a freelance writer for instance, you name, or site, are your brand. You have to look like a professional that is concerned with showing off the best work you can. The same is true for any business. With more and more people searching online, your site has to stand out among the rest.

With many of the free sites, which are not a bad thing, the banners and advertisements touting something, or someone else's services; why would they shop with you?

Web design and hosting at a discount or inexpensive site with your own domain name is a much better choice.