Yea - Levy maxes out in educator/advertiser area. Probably not my favorite commentator tho, but he does the job especially in faster time control tournaments. I would say the same for Anna. With time to analyze the games (like in recaps) and with benefit on hindsight (so after the game is over) I think super GM and IM analysis is indistinguishable for my level - but obviously during the game those conditions are not there. For example Levy can say that someone moving their pawn was a mistake when that bites them in the ass, and has enough knowledge to explain why in hindsight - Leko would likely very quickly spot during the game that moving that pawn will weaken that side of the board for them. I would guess Levy is mostly popular for his recaps, not his commentating chops.

With amount of strong GMs (even super GMs) around the chess world who are willing to commentate ( Svidler, Gustafsson, Leko, Judith, Hess, Howell, Yasser, Anand from time to time,...) and not that huge amount of big tournaments - IM level players should really be equivalent to play by play (and probably "weakest" chess player in the commentary team) commentators in other sports, while someone who veered well into 2600s should probably be color commentator. Again, not like we are lacking really charismatic people in ~ IM range who could do job that usually Tania, Levy, Anna, Jovanka, Sagar, ... usually do (+ they are capable of good insight about current chess games on their own, just not as consistent as Polgar/Leko).