In this article, we provide both analytical and numerical performance analysis of multi-service oriented multiple access (MOMA), a recently proposed non-orthogonal multiple-access scheme for scenarios with a massive number of concurrent connections originating from separate service classes with diverse quality-of-service (QoS) profiles and running on both handheld terminals and Internet-of-Things (IoT) devices. MOMA is based on both class dependent hierarchical-spreading transmission scheme and per-class reception structure. The performance analysis presented in this article is based on realistic channel and signal models for scenarios where the base station is equipped with a large number of antennas. It provides asymptotically exact approximations of the ergodic rates achievable by MOMA.