They're combinations of two quadrants that turn a plain list into an actual strategy — for example, using a strength to capture an opportunity, rather than just naming both separately.
Very honest. A SWOT only works as a planning tool if the weaknesses and threats sections are realistic, not softened versions written to feel better.
Quarterly is a good rhythm for most creators — frequent enough to catch shifts in your niche, infrequent enough to actually act on the results between reviews.