Which is an issue when you need to get department managers to manage their budgets around the amounts of credits their employees spend. The more of a black box it is, the more governance and corporate bullshit you have to deal with.
The copilot part of it runs "unlimited" on the license. Except it's not unlimited, and this is even more of a blackbox because you can't see any sort of spending and the limit is listed as "extensive use".
On your point about "monitoring", personally I feel this is toxic corporate IT culture, enabled and perhaps pushed by the likes of Microsoft with all their tools, which they of course make money off. People have cellphones with cameras making most points in this area moot.
An alternative used in other big corporates is to set budgets, with tiered authorisation approvals for higher limits. The users and their managers can justify why and what they're doing that they need the additional tokens. This also encourages more efficient use of tokens on other work. More efficient use is sometimes counterintuitive. Laissez-faire generally works best.
Cowork requires user approvals for high risk actions such as emailing.