Have you participated in rotating GMs?

[KorvinStarmast]

The first benefit is that it keeps everyyone at the table on the same level, no hierarchies.

Sort of; people are still people and in any social group that develops a pecking order.

The second benefit is that it does provide both reason and a safe environment for new GMs to take their first steps.

This. IME this is how you make new DMs.

The third reason it that it helps a lot against GM burnout because everyone gets regular, long breaks.

Amen. If one is forever GM it can be trying.