I can only speak to what I have. The advantages over just a cover are you can ride your bike into the CycleShelter and close it right up without waiting for your bike to cool down. It also comes with a floor and locking capability that a regular cover doesn't have. It also has a warranty and you can purchase a replacement cover if needed. Like I stated earlier I've had mine for several years and it's still working for me. Another good thing is you can move it wherever you need it, and it won't cost you a fortune. That's my dime.
The locking is big for me. Though I have not had an issue, I don’t want to have one. Taking it out from under the carport where one of the cars kept it from view, further out just does not thrill me. Covered totally and locking is good!