Depends on what you're doing.
You can punch MOA with a 4 MOA dot, assuming a rifle that is MOA-capable. The notion that group size is strictly determined by dot size is pure BS.
But if the dot subtends your target you may have trouble making hits. Thus, a 2 MOA dot would work fine on coyotes to 200 yds or so......not so hot for p-dogs.
FWIW, I think a 4 MOA dot is perfect on a woods deer rifle. That's what's on our 77 RSI .308. I also have a .300 WBY 700 with a 2 MOA Micro on the front ring. I shouldn't be shooting at a deer past 300 yds and 6 inches of subtension is not a problem. They work reasonably well in low light, though not as well as a 50mm objective. Sun is not a problem, as you can dial up light intensity (unlike with most ACOG models).
On balance, I would prefer some magnification for a mostly varmints gun, including a dedicated coyote rifle. But if you are looking for a compromise on a mostly close quarters gun you will be fine with the 2 MOA M3. Sometimes speed to shot trumps precision. The optic that gives you 2 MOA rested accuracy in two seconds can be better than the optic that gives you 1 MOA rested accuracy in 4 seconds.
Sam