We use Hotjar recordings to see what people see from various regions. It's pretty useful in that we can see how the page loads for users outside of the US. But beyond that, we can see what they interact with on the page. This seems useful from a very high level, but if someone wants more data points I'm sure they would use something more robust.
But for most companies use GeoIP targeting for things like:
Currency and Dynamic Pricing Locale (date time formats, languages), Dynamic translation functionality Determining visitor origins Custom ads/messaging Redirection to local websites (Amazon, Google, Craigslist use this) IP-based blocking (for cyber attack protection)
I would think that something like Hotjar is more useful for studying user behavior (how it varies across regions) than testing website functionality.
I will have to to more digging to see if they do the actual recordings from servers in those particular regions, or if they just map geo-filtered data over a standard video recording (with the assumption that it renders the same everywhere)