It does work pretty well, but it's expensive -- every time you use it it costs credits, which you'll have to buy to replenish. Both Microsoft & Adobe are working on implementing a similar pay to use biz model, the latest being Adobe charging credits for their new text to video generator, & Microsoft requiring credits to use the AI in Notepad.
support.microsoft[.]com/en-us/office/understanding-ai-credits-68530f1a-4459-4d02-9818-8233c1f673b8
These background removal apps are a small, niche subset of the most basic tools in a decent image editing app, where you select an object, and then copy/paste/move it, in this case onto a transparent background. To select an object in regular editing software you can basically trace it, use special tools to help you find the edge of the object when tracing it, or in some apps like Photoshop, have AI select the object for you, similar to what the AI in AnyEraser does. The difference comes down to how easy or hard it is to modify that selection when the AI gets it [hopefully slightly] wrong, and it not only can but will. The selected object in AnyEraser has a somewhat softer, feathered edge than Windows Photos, and it does a better job of detecting/removing stuff in the background than Photos, but for adjusting or finessing those edges Photos has the edge. That said, neither lets you adjust the object boundary as well as a photo editing app. Long story short, a background removal app or tool can be great for quick & dirty background removal or changes, but depending on the photo and your standards, you might often need to fix the results -- in that case you're often better off doing the whole thing in a photo editing app to begin with.
AnyEraser adds the program's folder in Program Files (x86) and a folder in Users\ [UserName]\ AppData\ Local\. I recorded one registry entry for the path, plus an uninstall key.