I don't know if I can give an interesting answer other than "I love it", or else I'll be here talking to myself about it for three hours haha.
I think it benefits both animation and live-action if done correctly, but generally it has a bad habit of getting out-dated fast. Also, considering (mainly western) animation, I'm not a huge fan of the standard industry style (think of Frozen, Rio, Cloudy with a chance of meatballs, etc.) but there are movies and shows that really live up to computer generated 3D animation's full potential. Arcane: League of Legends and Spiderman: Into the Spider-Verse come to mind. As for live-action, I usually prefer practical effects, but CGI can be executed beautifully. One of my favorite movies CGI-wise is District 9. By now it's an old movie but it still looks more fresh than some of the other films from that era.