Full disclosure without having to look up my profile - I am a field technical support advisor for Canon and support multiple customers in GA and AL running our production inkjet presses, including the varioPRINT iX3200 and its predecessor the VPi300. I also have experience at other manufacturers and in commercial print production with multiple toner printers/presses including the iGen and original NexPress.
Inkjet in general has several advantages overall that align with some of the comments on what you are looking for: color fidelity over long runs by removing all of the imaging components that change in performance as they wear, accurate and repeatable registration and more. Though I'm not in sales and have more technical knowledge than financial, inkjet also typically has lower running costs that make the higher initial equipment cost up front pay off at volumes even lower than 1 million A4s per month, depending on applications and other variables. I highly suggest looking into inkjet presses now, whether you look at Canon's or not, before making a decision.
Most high-quality inkjet presses deal with non-inkjet treated/coated paper by offering inline treatment to the sheets (ours is called ColorGrip) to allow them to print on a wider range of paper stocks than in the past. The vPiX series, for instance, currently sits at over 700 media catalogs available for most kind of substrates, including paper, synthetics, carbonless and other specialty materials. The difference is that the paper itself, particularly with uncoated sheets, plays a much greater part in image quality because ink tends to be absorbed into the sheets more than toner, which sits mostly at the surface.
I would be happy to answer any questions you have on inkjet in general or on the capabilities of our products, in particular in the photographic quality print space.