Atlassian tools are extremely boring but maintain a core set of features that many projects use.

Their vanilla status is bordering on Microsoft Office levels of drudgery. What on earth are you comparing it to?

I wouldn't exactly call Jira or Confluence shiny.

If you think atlassian tools have no value you haven't been in software development for long.

They might suck, but they suck substantially less than anything else.

They suck because they attempt to add feature to something that doesn't need more features.

They can probably be a small, healthy org but they insist on this cloud "solution". Now their customer are leaving them and they are paying so much more for all the extra fluff.

Well deserved loss.

Where do the customers leave to?

We are currently giving up our self hosted Redmine instance as nobody is willing to take ownership on maintenance.

We switch to Jira cloud.

github projects does the same job.