No more so than brewing beer with yeast or fermenting wine or growing crops.

You've got plenty of bacteria working for you (and sometimes against you) in your gut. Microbe-enhanced cement is a significant research topic. And the most plausible route to a chemical "factory factory" that space colonists would need to make middle and top-of-pyramid chemicals is a synthetic biology platform where you could make bespoke bacteria and yeasts that could make just about anything for you.