It seems that the OP asked what Renoise (the company) can do that Ableton (not “Live”, their product) can’t.
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T!KTAK 
can’t be done or can it be? decide already
its great you mention the two programs which feature a bottom screen strip where fx are added, that can’t be dragged up or down. you’re locked into this safe space i equate to a russian gulag.
good lord… you must be fun at parties… 
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Fact, ableton redux & erosion need updates so bad.
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Using Renoise is pure fun, like a simcity for sound.
Ableton is more like microsoft word imho 
Renoise can save you from getting an RSI from using a mouse all the time 
I think for the most part, you can achieve almost the exact same audio renders from any modern DAW. However, I think in terms of workflow, that Renoise feels highly specialized and extremely fast at working in the way it’s designed to be used. Ableton, to me, feels more generalized. I absolutely love Renoise’s UX, and the way of working using the keyboard, commands, etc… the whole program just feels so creative. Ableton feels more clinical to me, and I just have no desire to use it these days.
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How about automation curves? They were a pain in the ass in Live some years ago. Are rounded curves now possible? Will you have to redesign every point manually to avoid stepping?
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Colour themes - navigation by keyboard . Beats Ableton. Beats everyone.
force you to come up with hacky, creative, convoluted solutions to things you can do easily in other daws… 
with the upshot being that you get more creative with problem solving & lateral thinking
plus that shit’s fun
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not sure about past, but now those are easy as alt+drag between points to adjust curve
true, but sometimes totally opposite - as it depends of your approach to making music/ working in daw… do you want problem-solving approach… music-making… simple playing & overdubbing… tracking… experimenting with cv… etc
Totally true. I really appreciate the precision of control available in renoise and how much easier it is to quickly get the kinds of sounds I’m after within its workflow
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well, keyboard-centric - nothing beats Renoise in my opinion… 
and i simply love to fast-arrange stuff… it makes me somewhat ‘satisfied’ even if i know that in AbletonLive/Bitwig/Reason i’d have more visual control over cluster of notes for example… but still the emotion says Renoise
In my opinion, trackers are the most natural way to make music using a computer.
I never felt home with anything else.
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Pretty much nothing at all, Renoise and Live are both used to make music, listeners have no idea which was used.
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“What can a Pencil do that a Pen can’t”…
Its just a Pen, and a Pencil. Each has its onw task.
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I’ve always liked beatsync much better than timestretch overall you have much more control over samples imo in Renoise.
I’ve used Redux in Live just saying
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