". . . is a routing technology . . ."
Not really. You generally need to define routing, so the tunnel endpoints can find each other (which might be just a default route to the Internet) and usually also define routing to incorporate the tunnels into your topology too.
" without having to statically configure all devices."
Again, not really. You need (at least as far as I know) to configure something on the tunnel endpoint devices. However, DMVPN often requires less configuration on spokes than discreet p2p tunnels and on the hub device, especially when using NHRP, you may not need to further configure as you add "spokes".
". . . where the spokes will, can to communicate with each other directly without having to go through the hub."
True in the later variants of DMVPN, but I recall (?) this was not a feature of the early variants. Further, I also recall there are some "considerations" when doing direct spoke-to-spoke communication.
". . . or alternative to private networks like MPLS VPN."
Indeed! Generally, much, much less expensive to obtain/use, often easier/faster to obtain in many parts of the world. The major downside if often you cannot obtain guaranteed bandwidth capacity but often (again depending where in the world you're considering), you might find you can obtain more "average" available bandwidth, via Internet, that can be provided/guaranteed by a private cloud. The other major difference, MPLS VPN might also provide QoS, whereas Internet will not(and the need for QoS might be considered "critical" if supporting something real-time like VoIP). However, if don't do spoke-to-spoke, you can often do QoS as well (sometime even better) than QoS available via MPLS.
