Scope 2VK

My organization is considering activating Scope ID 2VK. We were supplied with this set up document:

https://support.sap.com/content/dam/SAAP/Sol_Pack/Library/Setup/2VK_Set-Up_EN_XX.pdf

From my initial read through, I am under the impression that this scope ID integrates a pre-existing on-prem version of SAP EWM with a single or multi-tenant server: is this interpretation correct?

My fear is as we do not have an on prem component and exist entirely on the could and have warehouse management on the cloud, that this scope ID will not bring value for the effort to explore it, but I have been wrong before.

Please advise.