Spot on from my experience using it in big orgs.
The issue IMHO is that organization of knowledge is not following any system and/or no system that could be followed was ever set in place by the organization when they bought into Confluence.
It's kinda like ordering an Airbus because they're a reliable plane. Then you sell tickets and everyone is board of course because ... Airbus. But you never hire a pilot.
If organizations using Confluence had at least one full time "Wiki Master" position or the like (with resp. superpowers), this wouldn't have to be like that.
I.e. I'm not sure the argument can be made that this is Atlasassian's fault.