It was bad the first few months, but except for a recently publicized utterly embarrassing security vulnerability, in the last 2 months it's been working great. The mobile app is now much, much better than the HipChat ever was.
As a proof, it took me 2 months to make this application: https://notes.sciter.com/ (and site for it in that time too).
Several people have built Slack clones and there's even multiple open source projects out there. Building a company and business at a scale like Slack is the incredibly difficult part and nobody has managed to replicate that.
- easy signup for public access
- integrations for killer apps in other verticals
- plugin architecture
- public and private apis
- mobile app(s) with 80% of core desktop functionality
- end-to-end encryption
Maybe it's sufficient to extend IRC. Add support for custom emojis & Giphy integration.
Voice, video conferencing and screenshare would be essential.