As far as I know, primary verification is required, which is your mobile number, and the ATM machine will capture your face through the machine camera.

If you are not paying with cash, then they can get every other piece of information they need for any verification from your ATM card, so what's the point of asking for ID verification?

And yes, the company has the Bitcoin; you are simply buying it from them with the expense of an extra fee compared to how they are selling it on normal exchanges; the Bitcoin ATM fee and price are always higher.

For now due to regulation relationship of decentralized bitcoin and the governments, the bitcoin ATM is currently limited and only exists in few places and also due to security challenges, it could not be affordable to mount the bitcoin ATM just anywhere like the banks ATMs.
To get a bitcoin Atm card, it is required to pass through Kycs because it is linked to exchange platforms.
The process of accessing the bitcoin Atm varies which in few cases, the machine would require you to process a Kyc which the machine has a censor for the caption. Could be verified ID or a selfie since ideally you are getting on a centralized machine network but at most Atm machines, scanning of your wallets QR code and also an OTP will be required before having access to the Atm.
The Atm machines can be is basically used to process exchange or trading transactions since you can buy or sell your bitcoin in other word, make your payment.
So it is not customized or designed that only the companies that has it that it processes it transactions.

1. It depends on the regulations in the country where you want to use ATM. Besides country, it also depends on the company's choice but usually companies try to make things as easy as possible to increase revenue. In some countries your experience will be smooth and in some countries it will be bad but one thing that every Bitcoin ATM has in common is that they all have ridiculously high fees. Some charge up to 25% of the transaction value.
2. It doesn't have P2P trading, or P2P you have to use another platform. If you want P2P experience without identity verification, then you should use BISQ exchange. ATM and Bitcoin belong to a company but it might be owned by one person or a group of people who call themselves LTD.

You have enough educational information and guides above but I would like to give you one more thing.

Bitcoin ATM Deposit Exchange Rate shocks.

Bitcoin ATMs have expensive service fees and make sure you know about it, and if you use Bitcoin ATMs, pay attention with their given rates and fee rates. Don't let Bitcoin ATM operator rips off your money easily.

Many people don't care of privacy and it's not their issue when using Bitcoin ATMs. If they are ready and already KYCed on Centralized exchanges, they don't or very less likely mind about 'recording' on Bitcoin ATMs.

The biggest danger from Bitcoin ATMs is physical attacks and expensive fees.
They charge between 4.99% and 21.90% of your total transaction amount.

Physical attacks can be on the ATM or on ATM users. When using Bitcoin ATMs, choose a location that is not too remote, and don't go to that ATM location at night, you will have more risk of attacks.
https://github.com/jlopp/physical-bitcoin-attacks

I think it’s pretty hassle to use a Bitcoin ATMs like in my country, there are plenty of digital banks that can make things easier to withdraw and deposit. Afaik it does require some verification so it’s no dofference in using digital banks. Also, you’re literally using it with a major company that handles the bitcoin ATM so technicall there’s non p2p happening at all. So yes, i can’t see any usecase that can make bitcoin Atm top tier.

You only can use digital banks for bank transfers when you do your bitcoin trades with your trade partners in Peer to Peer trade deals. I think I get it right so your post makes me confusing a lot because deposit and withdraw bitcoin directly with digital banks sounds not popular adoption from banks.

I knew that JP Morgan Chase changed a lot and provided many services related to Bitcoin and cryptocurrency but I am unsure that they and other banks provide what you said.
JP Morgan Chase are participating in 5 categories of cryptocurrency. Jamie lies!

Prepapre your finance and available cash or money in bank account to use daily or in emergency.

With bitcoin, to keep it safely you must store it offline in your cold wallets, and you can store small amount of your bitcoin in hot wallets, bring it around to use in case you need to pay something that is available with bitcoin payment method.

Find merchants and others that accept Bitcoin.
https://bitcoin.org/en/resources#directories

Certainly you will be required to undergo a certain process before a transaction is been made, but I don't think it has anything to do with passport or neither ID card, knowing fully well that Bitcoin is an anonymous decentralized digital currency. As for those who wish to sell their coins, they will be given a certain Bitcoin address where they will have to transfer to their funds to from their wallets, and charges will be made with respect to the current price of Bitcoin and then it's equivalent value in dollars or whatever currency you wish to withdraw will then be dispense via the Bitcoin A.T.M.  So that's how it works, and likewise vice versa for those who wishes to buy Bitcoin too. But just that the charges via using a Bitcoin A.T.M machine is always high.

Yes, each Bitcoin A.T.M machines belongs to a certain company which makes sure it works smoothly. And all you have to do is trade with them directly just like in the case of p2p