The advantage of a synch motor is that one can continuously adjust the actual KVAR depending on load conditions, whereas on a capacitor bank, you can only vary in steps by actually switching capacitors in and out. If the actual KVAR rating is large, this is not a trivial task.
Now..... on a synchronous motor to change the KVAR one adjusts the field current...the speed remains the same, it is synchronous with the mains frequency. A field regulator varies the field to maintain the required conditions