Googling a little, I might be misremembering limitations from a long time ago or from older IRC versions or something. Does it have async multi user rooms, reactions, and is it federated so I can stick to one log in? Not trying to be adversarial at all, these are just what I would miss if I didn’t use matrix and I haven’t really looked at xmpp since AIM days lol.
It could be their goal is not to be folks primary casual browsing instance, so just being someone that is stopping in to hang out isn’t quite what they are looking for.