Airport Time Capsule as a virtual drive

Just as a warning.. the TC was never designed as a NAS..

It is fine to just share some files on it to your network.. I almost always have a folder on it for just that purpose.. but trust it not one whit.. TC are notorious for having issues.. I know having repaired a couple of hundred of them.. people dump their iTunes library or photos library on it and then discover.. a week / month / year later.. when the TC inevitably dies.. they have no backup and no way to access their files.

Use happily for file sharing around a network as the article form anonyme4321 suggested.. just don't start landing files you are using live.. eg editing photos in the photos library located on the TC.. it will one day corrupt itself.. and Time Machine cannot use network devices as backup source on target. So most people end up with no backup.

Possible but not safe if you don't have a backup plan, and usually slow. If not mistaken, TC shipped with 5400 rpm low-power disk, may be durable not high performance.

I know 4th generation TC can do 20-30Mb/s on wired network, compare to proper NAS which normally able to achieve 100Mb/s. I think 100Mb/s is probably all you can get out of network storage unless you have hardware to support 10GbE or more.

Yes: How to use a Time Capsule as a Mac network drive | alvinalexander.com