Yes, you may treat ERC1155 fungible tokens like ERC20 except that both are different standards and they are not compatible with one another. However, both are fungible tokens that you can mint, transfer and burn any amount you wish.
More crypto exchanges only support ERC20 for trading which is why it’s still rare to see ERC1155 being listed on their dapps. But the future may change, especially when more projects are using ERC1155 standard.
One caveat is ERC1155 tokens have no decimal places. As much as they are fungible and divisible, you cannot divide them into fractional pieces.