Table 12-1 of this document
shows that MDF has a Modulus of Elasticity that is lower than OSB, which is in turn lower than plywood, yet MDF has a density that is higher than either.
Whether that matters or not? Dunno, I'm not an engineer. As I understand it, a material with a low modulus of elasticity means that it bends more easily.
Weighs more and bends more easily....not a win-win in my eyes.
In my experience, MDF does not take glue as well, and splits far too easily when driving screws into the edge. I've taken apart plenty of cabinets over the years (they take up a lot less space in the truck when you haul them to the wood-waste recycler). MDF cabinets tend to come apart more easily, all else being equal (design, glue, and assembly techniques).
I also know from my firsthand experience making speaker cabinets for the last 25+ years or so now that the dust, weight, and other issues associated with working with MDF in my shop preclude its use more often than not.
I use and recommend plywood. MDF may be just fine for some, but I prefer and recommend plywood.
To each their own.