This is because what management wants and what builders want are not aligned, not because the quality of JIRA is so amazing that no other alternative could ever be created. JIRA is fine but many people I know that use have some qualms with it because the bloat is pretty crazy.

As Spolsky said a quarter century ago, "bloat" is just "bugs somebody already fixed". (He may have actually said that about "cruft", but the idea still applies.)

Hard to believe that it was that long ago!

Yeah, I moved my team to Jira and sold it as "yes Jira is terrible but all the others are much worse".

I also spent a solid two weeks in the admin panel chainsawing as much Jira bloat as I could. It's perfectly adequate now.

The market seems convinced it will happen, considering its stock price is in the gutter

I'll be glad to admit I'm in the wrong when it actually happens.