SharePoint can be leveraged by ASP.NET developers by treating it as an extension of what they already know about ASP.NET. It provides benefits like a common user interface, framework, and data layer across an enterprise. While it has some limitations out of the box, ASP.NET developers can use their existing skills to build solutions using Web Parts, custom lists, workflows and more. SharePoint may not be needed for all projects but can be a good option when its features around collaboration, content management and search are required.