It's not a repository of patches, but a centralized update proxy and site local cache.
The benefits are:
- Patches are downloaded and cached so later requests are served much faster.
- The cache also preserves the Internet uplink (no redundant downloads).
- Internal servers never access the Internet (they entirely rely on patchsvr).
- It's built-in with few requirements, but disk space for the downloaded patches.
- It can serve both SPARC and X86 architectures.
There's no control of multiple patch versions or point-in-time patches.
IMPORTANT
Unfortunately patchsvr is broken since one latest Tomcat update in Solaris 10 U10.
At least by the release of Solaris 10 U11 no solution is available.