It might be an unpopular opinion, but Azure Boards has worked well in small and large orgs that I’ve been at. Some teams I’ve worked with also used GitHub projects, depending on your source control and other providers.
I worked with Azure Boards and the entire TFS stack for multiple years and it's a horrible experience. It's very slow, buggy and especially the access-management is so poorly designed, most engineers had admin rights, because we tried for hours and ended it with "fuck it" and gave them admin rights, so they could do their job.
Matches my experience. Not everything is bad about azure DevOps, but an awful lot is, and the platform is evolving at a glacially slow pace.
Generally that's what you get when working at a Microsoft shop with bean counters at the helm: of course this is bundled with some other Microsoft product so you might have been paying for it in part by just breathing near a windows box with VS installed on it.