Lots of security issues with it. Google it.
It comes in handy for monitoring purposes as long as you’ve familiarize yourself with the various manufacturer’s MIB’s (not Men In Black).
It does tons more than help with monitoring. You can actually control remote machines with it, including shut machines down by automated scripts (usually with power-supply software). But its all UDP so leaves a lot to be desired.
But as you said, its amazing in all it can do. Its been actively utilized for decades!