Google App Engine is a flexible web application hosting service that allows developers to build scalable applications without managing infrastructure, offering built-in services such as NoSQL storage and automatic scaling. While it provides various advantages like integration with Google Cloud services and support for multiple programming languages, it also has drawbacks including potential high costs and vendor lock-in. The platform's automatic scaling, robust development tools, and pay-as-you-go pricing model make it an appealing option for developers seeking efficient application management.