Based on this topic:
The idea is as follows:
In IAM you go to an app and have the ability to modify any of the translations. This can be handy for when you have several instances of one app that need slightly different translations.
Of course there are some things that need some overthinking like ‘what needs to happen when a new version gets deployed’, or 'what happens when a translation has been changed or deleted in the SF‘
This would be useful for me as well, tenant-level would be sufficient but GUI application level would be more universally applicable for other cases