In my opinion, the biggest problem with the current Matrix platform, especially if you self-host, is the server implementation. It's not buggy, but it's just awfully slow. The "dpt of ping" [2] section at the bottom of the weekly Matrix updates show that five seconds of latency between servers (measured by basic ping bots) is far from uncommon. The latency is still significant in the non-synapse version of the graph, but it's much better already.
With the speed new MSCs are accepted every month I don't think any alternative server stands a chance at catching up to Synapse any time soon, and I don't know how I feel about that. Yes, Matrix is an open platform with an open source spec, but it's effectively impossible to develop an alternative backend implementation with the way development is currently done, unless you've got a lot of developers and money to throw at the platform.
I'll probably look into Conduit again in a few months, hopefully the project will keep up it's impressive pace so that it's useful for my purposes.
[1]: https://cactus.chat/
[2]: https://matrix.org/blog/2021/12/17/this-week-in-matrix-2021-...