Or is it that it lets you answer arbitrary questions of this sort without having to figure out how to get that data?
Consider an enterprise that wants to say "list all the cloud storage buckets we own that are not in the US and are publicly readable and have a name containing 'foo'" - and they have several of each of AWS, Azure and GCP organixations because of acquisitions that aren't fully integrated yet.
Wiz answers that in ~5 seconds, with a rich query language and a bunch of prebuilt rules and detections on top of it, including for tracking compliance with various frameworks.
If you think about the number of services that AWS/GCP/Azure have, adding good compliance checks across even a portion of those is quite a lot of work :)
A small example from an area I know something about is maintaining the CIS Kubernetes benchmarks (which are used by a lot of CSPM products as a source of rules).
Here you've got the different Kubernetes distributions and then each of the cloud distributions has its own CIS benchmark as the checks are different depending on the cloud in use. Then you have changes over time as different clusters run different versions of Kubernetes, so have different checks. Then you add in that the benchmarks don't release with every new version of Kubernetes, and you can end up with quite a complex matrix of checks.