I sometimes use it as a polyphonic synth in general, pairing it with the expert sleepers fh-2. Because there are enevlopes, vcas and filters you can make polyphonic voices wholly in the box.
As far as oscillator specifically, there is the capability to do smooth morphing wavetables with single cycle waves, fm, and lots of wave shaping abilities, though that can get complicated. It has four outputs so you can send four separate voices for individual manipulation.
The one downside is control and immediacy. You have to bring your own methods of controlling the parameters in the 301. Also because there is no preexisting structure you have to build your own. This can get a little complicated with polyphony, but is totally achieveable, and very fun. Also because it is a digital environment you can make quicksaves and get back to a previous state.
The device is extremely reconfigurable, which is amazing to get a variety of sounds. It can take time to build up patches, since the building block units are often simpler than similar eurorack modules and aren’t necessarily tuned for a specific sound or use.
Also consider it’s capabilities outside of oscillator/synth voice duty. It has some good effects, delays in particular, the built in reverb is just okay, granular synthesis, sample playback, looping and up to 12 track recording.