Maybe a bit contrasting to the comments of dpoggeman,
There are scenarios where the Dataverse can speed up development. And there are many where it isn't.
Everything that is not supported out-of-the-box will take a lot more development time than what it normally takes.
Think about validation rules, defaults etc. There might be scenarios where the provided tools work, but not for me.
Also be super careful with refactoring. It's not really straightforward to see where dependencies are if you decide to drop a column. Not with the modern tools at least. You need to revert back to the legacy interface to get some help. Changing column types in case you made a mistake? -> Remove the field from all your forms, views etc. Drop the field, and try to memorize where you had them all before.
Could be that there are tools for this that I'm not aware about. But this is not the best experience (now).
Also calculated fields are somewhat limited.
So my take:
Works fine if you get everything right at once and don't mind the performance penalties or the more expensive storage model, or versioning, or backup, or ...