It works mostly fine. It doesn't have the prettiest interface, for example message editing is not great, and search is not great (though it got better than 1 year ago that was unusable). Anther stupid thing is that handling multiple organizations (for example if you are added as external collaborator to another company Teams) is basically broken, you don't receive messages from one if you don't switch to it most of the time.

Sure there are systems that work probably better but Teams is fine, also the alternatives either don't have all the features of Teams or they are difficult to use/setup. A pro of Teams is that if you already have Office365 is mostly well integrated with the other tools (mail, calendar, Office, AzureAD authentication) and you have to manage accounts only in one tool (I can from the horrible AzureAD administration console create a user and it has a mail, Teams, Office, and can login into the company computers).

To me the reason to have Teams is just that you don't have to introduce another tool, have another account, etc. Of course if you decided to use GSuite instead of Microsoft one makes perfectly sense to use Google Meet, but GSuite doesn't yet have all the feature of Office365 and it's more expensive, and like it or not you have to deal with .docx documents when interfacing with other companies.