Short answer: No.
Longer answer: In the words of Smogon, Phione is essentially a cheap ripoff of Manaphy. Besides their base stats, there is one major difference that sets Manaphy apart from Phione, its access to Tail Glow. In Gen 7 and Gen 8, where it is only available in NatDex, thus, Tail Glow is an option, this allowed Manaphy to decimate a sweeper with a +3 Hydro Vortex. Additionally, it allows Manaphy to break solid walls especially on Rain Teams with its Hydration Ability and Rest. Essentially, full HP restored for free.
Now, Phione has much worse stats, no access to Tail Glow, so it really only acts as a Heal Bell Cleric. It runs Rain Dance to shrug off any status, Heal Bell to fulfill its Cleric Role, and U-Turn to pivot. However, even in this role, it is outclassed by Volbeat which has Pranskter to better support. Because of this, Phione has landed Untiered or in PU sine Gen 5.
Conclusion: Never use Phione over Manaphy unless you are playing in a format where you can't use Manaphy, but Phione is still sure to be outclassed due to what I stated above.