I think it has more to do with bundling reducing the need to compete to zero. Change that and the economics of competition would take over and the changes would get prioritized but nobody at Teams needs to sell a single license, so the priorities become the bs like internal status and visibility and not product success.

How many companies have Teams for basically free with their 365 license but still pay for Slack? The marginal value of Teams is nearly zero.

There is also a matter of selective effort by staff senior enough to make their own choices. Many SDE3 (or whatever MS equivalent is) wouldn’t want to be associated with a dumpster fire product like Teams.