Can somebody explain how the software actually adds value? How is it really that amazing? Or is it just a buzz word?

There was a great blog post by an early employee on here a while back that did a deep dive. It's a good read: https://nabeelqu.substack.com/p/reflections-on-palantir

No. Thats the point. There nothing groundbreaking except their branding and lobby. Every other enterprise sofware company has data analytics platforms similar to Palantir - including the big microsoft / google. Palantir might even be best by a big margin but none of that matters. Nothing would justify this valuation. But what matters is that govs around the world will buy Palantir to show their alliance to US/Trump/Thiel. European far right politicians will happily push Palantir everywhere.