Is ERC20 good?

I've been hearing a lot about ERC20 tokens in the cryptocurrency world. Could you tell me if ERC20 is really good? I've seen some projects adopting it as their token standard, but I'm still not sure if it's worth investing in or using for my projects. What are the main advantages of ERC20? Are there any potential downsides I should be aware of? And how does it compare to other token standards in the market? I'm just trying to get a better understanding of ERC20 before making any decisions.