It can provision users to backends like SSH, databases, cloud providers, and such. Use is audited, can be revoked, and has a TTL associated.
Additionally, vault contains a full "crypto-in-a-box" implementation that allows for sign/verify, hmac/verify, encrypt/decrypt, random number generation, and other functions.
So I applaud AWS for doing this and hope the will continue developing KMS/HSM/Parameter Store/Secret Store/??? in the future and innovating, but evaluating Secret Store vs. Vault simply on price may be a short sighted comparison.
Disclaimers: Employer is an AWS customer using vault