I’ve always found it pretty awkward using Live as a slave. Even when using the MD or A4 as master clock the sync is far from tight and recording audio in Live is not as clean as it should be. Of course, I expect the midiclock is tighter than the Elektron boxes but I wouldn’t choose to run any DAW as slave personally.
I can see how midiclock could be an alternative to the innerclock syncgen, but they work in opposite ways to each other - syncgen tightening hardware to DAW tempo, midiclock tightening DAW to hardware.
I wish innerclock made a Lite version of the syncgen. All I want to do is sync the MD better and the full-on syncgen is overkill for me and just that bit too expensive to basically sync one bit of gear.