Are you talking about essentially taking over NORMAL underground belts and making them behave like Subterrain belts?
If so, ABSOLUTELY NOT! There is a critical flaw in the Subterrain belts in the fact that they cannot be blueprinted or deconstructed by bots. This is tolerable for limited use long-distance stuff where you put down Subterrain belts for in-base infrastructure. But for BUILDS... actual blueprints of things, Subterrain belts are completely broken. They do not work. And because of this, the non-Subterrain underground belts MUST be kept in the game.
Additionally, it is not super high priority at this time to make the fastest tier of Bob's belts probably because they already have a pretty long range underground and are fine in most situations.