Yep, they need something that beats Confluence and Jira and works as a tab in Teams.
And no, anything based on Sharepoint is not that.
And no, anything based on Sharepoint is not that.
Which is a pretty low bar, if you ask me. The fact that Sharepoint doesn't clear that bar says a lot about how bad it is.
I guess this space is so boring that we aren't seeing any exciting startups tackling it and giving the incumbants reason to innovate.