Yes, 5th Kind CORE can support multiple tag schema / metadata taxonomies in the same CORE site.
This is where Domains and Tag Structures come in.
Example:
A company has separate Features, Series, and Documentary divisions, and their dailies workflows have some nuances.
So Features and Episodic are separate out-of-the-box project types provided by CORE that have different tag schemas.
In this case, Documentary could also be its own domain.
Likewise, depending on the company's Dailies needs:
Dailies could be a department within each production that is used within Features, Episodic, and Documentary;
Or Dailies could be a category within the Editorial Department for each production that is used within Features, Episodic, and Documentary;
Or, if the company wanted to keep the workflow separate, Dailies could be its own domain.
So they have options depending on how different the tag schema needs to be for their workflows.
That said, depending on the different workflow requirements, a studio may want to secure different CORE sites for different divisions so that tag schemas and coordinating user permissions can be refined for the different needs.
CORE is highly customizable and can fit many needs.