VFD superceeds Motor Starter?

Electromechanical motor starters, as have been in general use for at
least 70 years, offer motor protection from overvoltage, undervoltage,
and overcurrent. From an operator safety standpoint, perhaps the most
important feature is no-voltage protection; that is, if there is an
interruption of power, the machine will not automatically start up
when power is restored.

Modern electronic VFD's offer all the above functions, plus of course
variable speed and a raft more. But are they considered as reliable as
the time-tested electromechanical motor starters as far as guarding
operator safety? In other words, can I use a VFD alone where a motor
starter was used before?

TIA

Steve