Take block:

AFAICT, it was just really badly managed. A long time ago it got about as much share of its main market as it was going to get. They took the cash flow from that and hired a bunch more engineers to try to break into adjacent markets, and failed, and failed and failed.

Now they are just retreating to the steady income from their core business

"Salesforce CEO says Block's cuts shouldn't fuel worries of mass layoffs: 'That company has its own unique issues'" https://www.aol.com/articles/salesforce-ceo-says-blocks-cuts...

one more :-) -

https://gizmodo.com/sam-altman-says-companies-are-ai-washing...

Did they ever get around to fixing basic bugs like "Jira and Confluence use different markdown dialects"?

They've had a decade to address those sorts of obvious problems that bite 100% of the end users of their stuff, and apparently employed over 1600 people during that decade. That's 160 centuries of person time. I wonder what it was wasted on, if not making their fairly small core product suite usable.

I think we're going to see more and more incumbent companies with big moats and terrible products get replaced with vibe coded solutions over the next year or two.

Why have every company vibe code their own semi-good bespoke tool when instead one company can handcraft the tool with optimisations much better than AI can ever dream of, and then sell that tool for a reasonable markup. Especially if the tool is open source open core, so companies can PR improvements they think will be broadly applicable.