I know the issue of versioning (and named versioning) has been discussed extensively in the community and the feeling is that with rich text versioning (which is really great) and the audit log for the entity fields, not much more is needed.
However, I still think there might be value in having the ability to create snapshots/named versions of an entity as a whole that you can return to or reconstruct how an entity was setup at a particular point in time. This was in Versioning in Rich Text Fields (and entities as a whole, too) but in the end, the discussion became focused on rich text fields.
I think this would be very useful in cases where workflows exist and multiple users might be editing an entity as it makes its way through the workflow. In fact, I think it would be very useful if you were able to build an automation around this so that when a workflow field is changed, a new snapshot is generated.