|Well, yes and no. |
I believe WordPress is actually an online blogging service, so that could potentially limit you, depending on what you want to do with the site.
So yes, you would have more functionality options by programming it yourself.
You have to remember that WordPress is completely free, whereas you have to pay for many domains (such as .com), plus set up a server, which will not only cost a fair bit of money but would require monthly maintenance etc.
Plus, WordPress offers many different themes and over 30,000 plugins, so the site would likely look very nice with minimal work.
For a smaller site, WordPress is definitely better - though if you plan on creating a multimillion dollar corporation from the site coding it yourself would be better for the long-term.
User Info Page Biography for full specs.