The advantages of the package development model are improving team development and collaboration, facilitating automated testing and continuous integration, and significantly reducing the need for manually tracking changes. The package development model allows the developers to work on modular and reusable components that can be easily tested and deployed. The package development model does not eliminate the need of using change sets, as they can still be used for deploying non-packaged components or metadata. The package development model does not provide its own source control, but rather relies on external source control systems such as Git.