MySQL Installer installs most Oracle MySQL products, which includes server, Workbench, connectors, and other tools. It also handles product upgrades by providing an interface to update to newer versions of the installed products. However, it is not limited to only GUI-driven installations, as it can be used for silent installations as well. Manual download of separate product packages is not necessary because MySQL Installer itself can download the necessary files. It does not provide a uniform installation wizard across multiple platforms since it is designed specifically for Windows environments.