Too runny. Pizzas I use olive oil on always end up messy as hell. Tomato politely stays put under the cheese, any exposed sauce cooks and dries so it's not runny, and oils and greases from other sources tend to sit on top of it rather than displacing it and turning into a kind of icky liquid-fat blend.

I still use it for certain pies, but would absolutely not rate it higher than tomato sauce for this purpose, overall.