I'll preface this by saying that near any voting system, ranked choice voting included, is better than FPTP. That being said, ranked choice voting does have some issues. Some that, arguably, can make it almost as bad as FPTP. To be more specific for this argument, I'll focus on the IRV type. The main negative aspects of this voting system, imo, are that it doesn't satisfy the monotonicity and Condorcet criterions. Regarding this topic, I highly recommend reading this article. It is very well written, and very informative.