Here the honest answer starts with what it does NOT bring, because that is precisely its business model.
As standard it brings motion detection, which is geometry: pixels changing inside a rectangle. It is the reason a shift fills up with alerts when it rains.
What sets it apart is not the analytics it brings, it is the analytics you can add: third-party, specialised, sector-specific. If you are after one very particular analytic for one very particular niche, this is where it is most likely to exist.
And the price of that: every analytic added is another manufacturer, another licence, another support contract and another version that has to line up. Three suppliers in the same system is a coordination job, and it normally falls to the integrator.
The real limit, both of the included analytics and of almost all the added ones: it detects events defined in advance. What does not arrive is the understanding of the situation: that somebody is forcing something instead of using it, or that a group is behaving in a way that is not normal there at that hour.
And the declaration, which comes before the recommendation: in the same house there is IRIS Neural, the NVMS from Infinity Neural, the other company in the group. It is our own product, we make it, and so this is not a neutral opinion.
In practice they live together: XProtect governs the cameras, the recording, the permissions and the history; IRIS brings the understanding of the scene. And if what is needed is a rules-based analytic set up properly, that is the right answer, it costs less and we say so.