Bought this 18 months ago and there are already 2 newer models, therefore would not recommend buying this specific model.

Overall, very good 360 cam. Excellent video quality. Be aware that a lot of post processing is needed though to produce good results.
Phone app very useful with a lot of AI and auto video creation tools.

Note: Although the camera is fully waterproof, was not aware that you need a separate case to capture underwater.

Very good choice if you want a quality camera for 360 videos.
Ability to capture 5.7 HDR, where I would recommend using it only during the day with sunlight.
Very durable, waterproof without the need for a case, up to 10 meters depth (all doors must be tightly closed).
Very easy to use both the camera and its applications (smartphone and PC/Mac).
The only extra thing for starters, I would recommend getting lens protectors and an invisible stick and you're ready.
It has good sound, but if you want something more, you can get the Mic adapter and use any external microphone that suits you.
Check out the video for a more detailed presentation!

-Unacceptable process for service and return even after a problem directly after unboxing.

-The lenses are very sensitive and there is no real way to protect them (the sticky lens fills with moisture)

Generally, those who have written negative comments probably did not know what they were buying or thought that with 500 euros they would get a camera that does it all. The camera is the best in terms of quality-price ratio and this still holds true after 2 years, with minimal differences compared to the X4. The camera is for 360 video and editing directly on the PC or mobile without needing to frame when shooting. The quality during the day and afternoon is excellent, but the raw footage has issues in the evening, although with the software filters on the PC, the quality becomes very good.

In terms of software, don't look elsewhere, no other company comes close.

If you want to see a representative video after editing, through the 360 program provided to you for free by insta 360, I provide the link below: https://youtu.be/vkalv8BM5CE?si=EGQ55WuD8f-behrr.

It is fantastic, I got it to record my rides with the motorcycle, it has a lot of things you can do. The good thing is that you can edit directly from your phone easily and quickly. It has many options for video. Here is a first one I made to try it out without knowing too much, and I think it turned out quite beautiful
https://www.youtube.com/shorts/iddYmnv2iAc

Edit
I was filming a school performance in a classroom full of people, and after 40 minutes it shut down due to temperature

Minimum use and the camera stopped working after 1 month of inactivity. Disappointing that after 1 month the camera has to be sent to Germany due to a hardware issue. It is unacceptable to pay 300 euros for a camera and not have them fix it. If someone doesn't need the 360, the camera is not worth it.

A very good camera that the battery lasts for an hour...
It heats up very quickly.
It doesn't work underwater, not even decently.
The night mode on the 360 has poor image quality.
And in the end, it's not worth 500 euros, it's just a slightly better camera than the 300 euro ones.
Basically, you're paying the 500 euros for the 360 feature that shoots during the day.
But the footage it captures is incredibly nice, and that's why it's highly regarded. It's definitely worth spending 1000 euros to get the best 360 camera you can get.
Basically, this camera is the best choice among the cheap ones available, but it's a bad camera for 500 euros.
You pay for the 360 feature and you have to accept that

I also have the first one that the company released, which was not waterproof. So I bought the underwater case and I was very satisfied.

And I decided to get the 3rd one because of the improvements in the image and waterproofing, because putting it in and taking it out of the case was annoying and always made me worry if I closed it properly, etc.

Well, the underwater image is terrible!!! And after seeing the result, I looked it up and read that... you need an underwater case. Unacceptable!!!

So, for splash proof it's fine, but this 10-meter waterproof claim is a joke, unless they mean that we shouldn't worry if it slips from our hands and falls into the water up to 10 meters, it won't break

I will not analyze the quality of the videos/photos, generally it is good for outdoor shots but if you need it for indoor photography, for example Virtual Tours, it is not worth the excessive price. When purchasing it, also consider the Selfie Stick, around 35 euros minimum. The most important thing, if you decide to order it, is to also buy lens covers because they are very sensitive, or pay extra and activate the Insta360 Care within three days, around 50 euros. The cameras protrude from the body of the camera and with the slightest contact with a surface, like in my case when I lightly touched it on the tile, they can get scratched and unfortunately even the slightest scratch on the cover greatly distorts the photo. The cost of repair is quite high. The shipping to the repair center in Germany is around 100 euros round trip, and each camera repair costs around 100 euros. It is very sensitive for an action camera due to its design.

After many changes with GoPro 3-5-7-9, and a lifetime of glitches, I finally saved myself. It hasn't had a single issue for 5 months now. Stability, sound, colors, and of course the amazing tricks you can do with 360.