I object to you referring to 1. Mawlid as jaiz [mubah] and saying it carries no religious value - it is actually Mustahab and that is clear. It can provide a person substitute Farz
2. Milad un Nabi is a day of celebration and aka an eid [Eid Milad un Nabi].
3. Some people who favour caution? I think you mean those who refer to Mawlid as a Bidah Dalala, I’ll let Sister Hareem’s Tariqat [who i think this article emanates from] do the talking: ..someone who persists in rejecting the permissibility of Mawlid after all the above evidence, which is based on Qur’an, Sunna, and the derivations of ahkam (rulings) from the relevant dala’il (proof-texts), can only be a blind-follower of his own ignorant and stubborn opinion. “They will pass through the religion the way the arrow passes clean through its quarry” (Bukhari and Muslim). Allah knows best, and Allah guides whomever He will