"Live sand" that you buy in a bag at the store is sand with bottle bacteria added, so won't bring in much. Live sand that's actually from the ocean should have a lot of life in it, but that life will, of course, be life that lives in sand. You'd probably get less beneficial algae, for example, and you almost definitely won't get any macros.
yes I was speaking & thinking about real LS direct from the ocean shipped in water.
of course no macros, sponges or coral but we where talking about bac. biodiversity.