Can an air fryer totally replace a microwave?

Never owned or used an air fryer, but aware of the hype around them.

Our old microwave is getting pretty rusty now, and was looking at replacing. My other half suggested an air fryer instead. Kitchen is small, so likely wouldn't get both.

Could an air fryer replace the functions of a microwave oven? Can you do things like cook those frozen ready meals that come in plastic containers?