From a cursory read of its website, it looks like a pre-internet app, basically a glorified text editor. There are zero network-enabled features. The only groupware-oriented feature is coloring pages differently if someone else edits the document. There is plenty of scope for disruption here.

The only "key feature" they have is that everyone in Hollywood uses FD. They say so themselves on their website! The "Key features" screen does not list any actual feature, it's just a list of variations on the concept that "everyone in Hollywood uses FD". In that sense, the main challenge is clearly political rather than technological.