My experience is that it works great, provided that you're on your local network. When away from home or traveling, less so. Maybe I could configure things better to alleviate that, I don't know, but I haven't managed to yet.
Sharing is less convenient. Trying to share a photo on-platform is a terrible experience for the receiver with multiple slow redirects, so much so that generally if you're on mobile it's easier/better to just download the photo to your device and share the photo directly. The Moments android app has a flow for doing this, which is nice. It also makes a certain amount of sense: the alternative would be others connecting to your NAS online, which is always going to be less nice than just connecting to Google photos.
The search capabilities are pretty decent. It can recognize people and tag them appropriately. It can recognize some things. In some ways, I prefer searching it over searching Google Photos. But again, only if you're on your local network with your NAS.
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Edit: see aborsy's response to me below. Looks like I'm a version behind. Maybe on-platform photo sharing is better now, I'll update the software and check it out
If you want to check it out, here's a couple photos from when I picked some peppers the other day:
It's pretty dang hard to recreate a Google service.It's great for backup and have control over the photos - but dang it's slow....if I need something real quick, I usually go to google photos...even when I'm home. Maybe I need to upgrade to a NAS w/ faster processor, I don't know.
I've turned off the Google Photos facial recognition stuff because of privacy, but dang I miss the convenience. Moments has their own but it's not a good.
Google photos I can easily search for a city or text or an object and it pops up quickly.
But I don't want my GPU burning away running them when they could run much more efficiently and out of mind in the cloud.
I can see myself paying for such software if it was mature enough.