To be honest, I’m also not that knowledgeable about it even though I do have it running on a VPS. And can’t say I’m too knowledgeable about networking/VPNs either - I do use Wireguard which I also manage, but that’s about it.
So, some bulletpoints instead:
It’s kinda a pain to set up
It’s default server configuration logs all requests, so you might want to disable this
As far as I understand, it’s more of a proxy than a VPN, so you won’t be able to make connections from one client to another
It mimics standard HTTPS
When using the “reality” protocol it successfuly mimics any website of your choosing for any unauthenticated clients by forwarding HTTPS certificates and whatnot, which protects you from active probing
People use it to get around the Great Firewall of China