As far as I can tell, your shared library feature lets you share a palette of colors—BUT, once you start using those colors, they are locked within your file and no longer linked to the shared library. This means that if your brand team changes a shade of yellow slightly and publishes that to the library, you have to manually know what changed and manually update your file. Figma users are very accustomed to using shared swatches, and Illustrator users can get comfortable with this workflow too IF it works for them and their company.
EC
As far as I can tell, your shared library feature lets you share a palette of colors—BUT, once you start using those colors, they are locked within your file and no longer linked to the shared library. This means that if your brand team changes a shade of yellow slightly and publishes that to the library, you have to manually know what changed and manually update your file. Figma users are very accustomed to using shared swatches, and Illustrator users can get comfortable with this workflow too IF it works for them and their company.