That's part of it, but also, they just published a whole marketing video to advertise a performance improvement
Presumably, Teams was so unbelievably slow that it crossed over to being an actual problem for customers and not just a mild nuisance. So Microsoft improved performance just enough to stop affecting sales. Is the performance _good_? No, it's still comically slow. But there's simply no incentive to improve the performance further.
But:
> there's simply no incentive to improve the performance further
The breakdown here (https://techcommunity.microsoft.com/t5/microsoft-teams-blog/...) indicates this was a monumental rewrite, almost green-field, with the singular goal of fixing performance. I don't think they slumped on effort this time