A benefit this has over cloud storage is that you can store your files across cloud vendors; so it would have cloud vendor redundancy. If Amazon goes down, it will pull files from Azure, and vice versa. This is a future feature if this gets any traction.
Other things it might have over a cloud storage is you can assign tokens with different access levels, so your applications that need read only will be assigned read only tokens and your applications that need read/write can use read/write tokens.
Larger customers that aren't interested in the cloud or are cloud averse with their sensitive documents can do a local install and have it store on a share inside their own network, so the method of storage is mutable; Azure, AWS, SMB, even FTP.
You can also assign searchable metadata to each document, or upload a bunch of documents with the same metadata. So say you have a referral of some sort and it has 20 documents; you can upload all 20 and assign a meta tag as ReferralID: 123, then reference those documents in searches.
There is also a built in file conversion.