I like MDO plywood for shop furniture. The last sheet I bought was a little different. Instead of a sheet of paper-like veneer on the surface, it had about a 1/8" thick top and bottom veneer of MDF. It checks a lot of boxes...plywood strength; smooth, nondescript paintable surface; relatively flat (compared to normal plywood products) and good price (compared to other sheet goods, none of which are cheap these days).
I have a real hard time committing my few shop hours to building anything out of MDF.