In this case the planned dam was not for power generation but for wetlands restoration. I can believe that a beaver-made dam can accomplish that purpose apprxoimately as a man-made one would, and obviate the need for the man-made one, sure. It's obviously dissimilar in many ways too, of course.
I cannot. Beavers are following biological instincts, not logic. Their dam may not be in the best place, or may fall apart in a short while. What happens when those beavers leave/die?