We have used Sharepoint in the past in several projects from early inception until 2018. We were reasonably successful as the product evolved. However, my recent experience in 2017-18 also required a lot of additional work in creating and deriving meaningful information and insights.
It took a lot of effort from us as Supplier to configure thereby leading to customizations or additional template creation. I see now some benefits start coming based on recent Microsoft product strategies and evolution. However, in my view, it is too early to comment upon as different industries/sectors have different levels of maturity in project management.