Jira Cloud isn't just the on-prem version of Jira where you're forced to use and pay for Atlassian's hosting, it's actually a different and much shittier version of the old on-prem Jira. Same goes for other Atlassian products such as Confluence.

It's no surprise to me that Atlassian is in trouble, as there's little reason I can see to use their products anymore, and they are just coasting on inertia at this point. Whereas 10 years ago, while it was still fun to knock their stuff, I had to admit they were actually pretty decent.