It is well suited for small objects in home/office or familiar surroundings to anchor Augmented Reality Objects. It works well for most e-commerce use cases, travel use cases, games, etc. It is not well suited where depth occlusion is the primary use case or human body anchoring is required or even for large-scale AR use cases.
Vuforia Engine has limited functionalities compared to ARCore. It has image-based detection and augmentation which requires users to have the anchor image with them for the augmentation to properly occur. ARCore solves that and it's one step less to reach the user and really convince them to try it.