Only if you don't count building/support/maintenance of RCS. SMS works well enough for it's main jobs: fallback for people that won't install a 3rd party app, an insecure channel for TOTP (something RCS doesn't improve on), and the one near-guaranteed messaging channel for a whole range of services that can't or won't write an app with push notifications.

Adding RCS is not free/easy and it continues to make us dependent on the carriers and Google, two groups I trust about as far as I can throw them. RCS is a crap "standard", this isn't a case of good being the enemy of great, it's a case of Google trying to force their latest messaging platform on everyone.