I use the ALICE belt and suspenders as a tool belt at work (I'm an electrician). They're quite nice and way more affordable than any modern tool belts that are the same quality.
ALICE gear is robust and quite well thought out. A lot of it is compatible with modern MOLLE gear. Yes, they do make modern combat rigs, specifically MOLLE ones, but they nearly always lack the suspenders because of the modern use of plate carriers. I have a MOLLE combat belt that hooks onto the underside of my plate carrier to create an effect similar to wearing suspenders, but that doesn't help if I'm wearing the belt by itself.
Combat belts, whether ALICE or MOLLE, are good for the outdoors when you want to carry stuff without a backpack or when you want gear to be immediately accessible without taking off your backpack and digging through it. Things like a canteen, first aid kit, compass pouch, belt knife, etc. You might get a few odd looks, but most people will just assume you're really into outdoors stuff and not comment on it.