Family Sharing - what's the difference with sharing iTunes/App Store ID/password?

I currently share my iTunes and App Store account with my son and my wife. I am thinking about turning on Family Sharing. However, beyond my having to approve my son's purchases and him not having to know my password, I am not sure of the real benefit.
I don't need to share Calendars or Reminders. It would be nice to have a shared photos folder, but that can be done easily with setting up a shared Photo Stream.
Any other benefits?
Thanks,
Tony

I'm also reading that iTunes Match cannot be shared with Family Sharing. Seems like Apple is going the wrong way with this.

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