Why blacks look deeper
In a VA panel the liquid crystals stand upright when no voltage is applied, and in that position they block the backlight well. Native contrast reaches about 4000:1 and beyond on the best models, against about 1000:1 for a typical IPS panel. With a 300 nit white, a 4000:1 panel has a black of 0.075 nits. That's 4 times the contrast of a 1000:1 IPS panel, and in a dark room it shows as blacks that look black, not gray.
Where VA gives ground
Viewing angles are narrower. Color and gamma shift as you look from the side, and the shift shows up on a large or curved screen. The edge of a an 34-inch (86 cm) 21:9 ultrawide is 26 degrees off your line of sight at 31 inches (80 cm), so even a centered viewer sees parts of the screen at an angle.
Dark transitions are slow, too. When a pixel moves from black to a dark gray, or between two dark shades, it can take longer than on IPS, and the result is ghosting behind moving objects and muddy dark scenes. The ghosting vs inverse ghosting page shows how to spot it, and reviews of the exact model at your refresh rate are worth more than a response time number.
VA on curved screens
VA is the usual value pick for curved monitors. It costs less than IPS and more than TN, and the curve turns the edges toward you, which helps with the narrow viewing angle. The Curved Monitor Visualizer shows how a curve sits on your desk and what it does to your view of the edges.
When to pick VA
Pick VA for a dark room, for movies and for mixed use where you sit centered and don't share the screen. Pick IPS if people sit at an angle or if color accuracy comes first. Pick OLED if you want black with no backlight at all and can live with the wear.