I shudder when I see it but mainly from an aesthetic point of view
I'm not going to defend liquid nails for woodworking. It's silly. But so is going into Bunnings and expecting them to be expert in woodworking glues.

It is what it is. It is widely used in the construction industry. Well, not liquid nails, but polyurethane construction adhesives like SikaFlex, which is quite highly regarded. But you can't beat mechanical fastening.

I've got 12 firewood boxes that I made from 12mm chipboard cover sheets. Each box was glued together with a product like liquid nails (I think it was Mitre10 branded) and held with a few nails from the finishing gun. 4 years later they are all still in one piece and they get a hard life - chucked in a trailer, filled with 15 or 20 kg of firewood, stacked and later carried one by one into the house as needed. Each box has been through that process more than hundred times.

It's not entirely useless but I wouldn't use it to glue up an outdoor table. But then I wouldn't glue up an outdoor table top. I'd make it so it can move. Even if it was going to be undercover - I might move house one day.

And I certainly wouldn't use dowels