Atlassian is 20 years old and unprofitable
>  users can switch to a competitor product like Asana, Basecamp or Monday.com with minimal costThat's just plain nonsense.I dislike using Jira as much as anyone, mainly because it's so excruciatingly slow.But there is no competing product (suite) that offers comparable functionality and provides the same long-term flexibilty. Many companies have built entire workflows (not just development related) around Jira, and have huge knowledge bases in Confluence.
Switching would come with a lot of effort.I will say that most of the Atlassian products are ... not great.Bitbucket has completely stagnated and is way worse than Github and Gitlab.
They actually had an opportunity there. Once upon a time Bitbucket was the only site to offer free private repos, and it attracted a decent number of users to also publish open source there. A good amount of companies adopted it.
But they let it linger and didn't keep up with Github or even Gitlab. Just like Jira it's also slow and awkward to use. (never do large PRs ...).I see a lot of companies switching away from Bitbucket now because developers are not happy with it.Bamboo ... mehOpsgenie ... mehConfluence is actually fine. If only it had better search and wasn't so slow...And Jira is so complex, improving it is probably extremely cumbersome  because so many features have to be considered and everything has to keep working.It might be advisable for Atlassian to start fresh with a new ticketing system.Anyway, they have 8000 employees... they can always drastically downsize and refocus, the company will be around for a while.