Neither. This is a great way to damage the inner lining of the hose.
Depends on the type of hose, but they still have their uses.
On an all rubber with nylon webbing hose, if the pliers damage it, it was on its way out anyway.
On a hydraulic (steel reinforced) hose, yeah, I'd re-consider using one.
Still, when I'm replacing brake calipers, I'll clamp the hose before I remove the caliper, so it doesn't drain out while I have the caliper off. But then I'll replace the hose before I put everything back together (because I figure, if a caliper has aged out, the hose has to be about due for replacement too, and since bleeding is the majority of the work anyway, might as well do them together.)
I have a couple of those Craftsman ones, and like them a lot, but I believe that style was discontinued.