Let $\Gamma$ denote the Cayley graph for a finitely generated group $G$, and let $p_n(x, y)$ denote the transition probability that a random walk starting at $x$ reaches $y$ at time $n$. A famous "Gaussian bound" due to Carne and Varopoulos states that given a reversible Markov chain, one has that $$ p_n(x, y) \leq 2 \sqrt{ \frac{\mu (y)}{\mu (x)}}\rho^n e^{-\frac{d(x, y)^2}{2n}}, $$ where $\mu$ is a stationary measure for the Markov chain, and $\rho$ is the norm of the Markov operator $Pu(x) := \sum_{y \in \Gamma} p(x, y)u(y)$.
I am trying to understand the application of the above bound to Cayley graphs. The bound aligns with my vague intuition obtained from Gaussian heat kernel bounds in the continuous setting. But I am thrown off by the stationary measure term and the concept of "reversible", which I don't really understand. Does such a measure always exist, particularly if the random walk is not recurrent? Also, how is such a bound useful, unless one has very explicit information about some stationary measure? Also, what about reversibility on a Cayley graph?
Further, a stationary measure is defined by $\mu (x) = \sum_{y \in \Gamma} p(x, y) \mu(y)$. I am seriously confused over this definition: what is stopping the measure from being $\mu(x) \equiv 1$ for all $x \in \Gamma$?