I live and breath in the "B2B computer world"...meaning I support businesses.
In the old days, the professional way when having a server...was to configure active directory...the domain controller, and set Windows Professional workstations to join the domain...and log in with domain user accounts. This gives functionality, control, management, security, features, and brings a whole buncha other good stuff.
...sometimes we'd come across some poorly configured networks at "new clients we were brought in to fix"....where some wanna-be-imitation-pizza/craigs list tech" just configured it all in some partial workgroup mode And we'd have a good laugh at that poorly done amateur hour setup.
So...with Microsoft 365 business licenses....there is AzureAD...and there is InTune (although InTune not in the lower end budget licenses)...and those are the modern way of what was done in the old fashioned on prem server days. Workstations "get joined to AzureAD"....thus...any AzureAD users can log into those computers, just like in the old days, any "domain users" could log onto those "domain joined workstations". And there is control, management, security, and "things work properly". (much like Britech said..."tied up in a pretty bow")
...you do need to "join AzureAD first"...before users can log in. You can't just go and sign in with a Microsoft business account.
...no advantage to having a local user account except for the "in case of emergency, break glass local admin account". Which....with over several thousand computers in the past nearly 20 years of Microsoft 365..I've never had to use...but I still feel the need. Even though 365's Azure has LAPS"(local administrator password solution) that can create/manage a local admin account of an AzureAD joined rig.
While 99.999% of my work is in the business IT world, I still have a bit of volume of the personal world...and Microsoft Personal accounts are similar....I've yet to see a drawback from using a Microsoft account to log in...and I see many advantages...things just work better like they should. And yes the comparison to an Apple account or a Google account...is legit.