Every single student at my university would cheer for joy upon hearing this news. Blackboard is as stunted a piece of development as they come and additionally is an incredibly expensive piece of software, especially considering the quality.
The user experience is so bad that many course lecturers make their own site or just avoid using websites at all. The only question I have though is how do you pitch it to universities when the people who suffer under the product usually aren't the ones making the purchasing decision?