For me it's all about the branching Neon provides. Being able to instantly and automatically have a branch of my production data for every dev branch is incredibly useful.
You can have an anonymized dump like you'd normally do and then branch it. This allows spinning up environments in seconds and without the disk footprint of a new replica or dedicated DB.
The privacy / security constraints stay the same whether you are branching or not.
Anonymizing data is the biggest part of such a workflow. Most prevalent use case that requires production data is for debugging. I guess there is some value in branching non-prod databases for feature development.
Most security teams do not allow prod data in non prod environments, anonymized or not l.