vCenter Server Events are extremely powerful and contains a ton of useful information, especially for auditing and compliance purposes. As of vSphere 8.0 Update 3, there are over 2.1K+ out of the box events with many more through 2nd and 3rd party integrations.
One of my favorite vCenter Server Event is the VmReconfiguredEvent as it provides complete visibility into every VM reconfiguration change as shared in this blog post back in 2015.
I recently saw an interesting inquiry about being able to audit and track vGPU profile reconfigurations for a VM and of course, vCenter Server Events to the rescue!