We use it to back up our Microsoft 365 environment - Exchange, SharePoint, and OneDrive. So those things get backed up via Veeam.
The most valuable feature is the simplicity of the GUI. Also, the modularity of it stands out. We can deploy it in different ways; several portions can all be deployed on one VM or server, or it can be split into different parts depending on the company's infrastructure and requirements.
The way Veeam handles version control is by creating replicas of your backups. I would call that a disadvantage because it doesn't rely on versioning on the storage side. For example, if you have an S3 bucket, you can set up versioning on the bucket, but Veeam doesn't support that feature.
Any versioning has to be done with replicas on the Veeam side. It does do snapshots, which is a type of versioning. You can set up snapshots on whatever schedule you need.
For example, if you do a daily snapshot, it will keep all the previous snapshots for as long as you want to retain them. This allows us to go back to different documents. So I think that's what you mean by versioning. Versioning on an S3 bucket is a similar idea, but it's implemented a little bit differently in Microsoft 365.
Veeam Backup for Microsoft 365 does not offer AI to enhance its backup services. The other Veeam product we have, Backup and Replication, does have AI, but it's basically just a chatbot. It won't automate anything for you, but it helps you look at the Veeam Support knowledge base.