Short answer: No, not really. AirPods Pro 3 can't do true multipoint where you're connected to two devices at once. But Apple's automatic switching is pretty clever if you're all-in on Apple stuff.
How It Actually Works
If you have an iPhone, iPad, and Mac all signed into your Apple ID, the AirPods automatically switch between them. Start playing a song on your Mac, then hit play on your iPhone, and the AirPods hop over to the iPhone. No buttons to press.
It's not the same as multipoint, but it's kind of close. The switching is fast enough that most people find it works fine.
What You're Missing Out On
Here's where it falls short compared to earbuds with real multipoint:
Let's say you're working on your laptop listening to music. Your phone rings. With AirPods, you won't hear the ring until you manually switch or answer the call. The AirPods are fully committed to the laptop.
With Sony or Bose multipoint earbuds, you'd hear that ring come through while still connected to both. You could tap to answer without any switching hassle.
Switching Manually
When you need to switch between devices:
iPhone: Control Center > tap the audio card > AirPlay icon > AirPods
Mac: Control Center > Sound > AirPods
It's a few taps, which isn't terrible but isn't seamless either.
My Take
If you're deep in the Apple ecosystem and don't need to juggle non-Apple devices, the automatic switching is good enough. It's genuinely convenient most of the time.
But if you regularly switch between a Windows laptop and an iPhone, or you need to stay connected to multiple devices for calls, you might be happier with earbuds that have proper multipoint. Samsung, Sony, and Bose all offer this.