Correct me if I’m wrong but I think what
@Dennis Alwon is driving at is the ability of the flex to carry fault current back to a wire type EGC (or pipe) to actually carry fault current back to the source. For example if there’s a 500’ run of 2” FMC, the NEC doesn’t permit it to be used as an EGC. However, if there’s a fault halfway through the run to the raceway then the FMC still needs to act like an EGC in a sense to carry fault current to the appropriate EGC. Comparing it to a piece of PVC in the middle of the run is a different animal, PVC isn’t conductive and won’t carry any current anywhere.