I'll talk about how it's implemented in my university. YMMV of course.
1. There's no common area for teachers. I cannot have common resources. For example, I like to have some ground rules for all my courses; cannot have them stored in a common space to import them to any course opened.
2. So many steps are repetitive and cumbersome without any possibility of automating them. For example, I can devise an activity and set up a carefully crafted rubric for grading. There's no way to store that rubric elsewhere so I could reuse it for another, similar activity either in that same course or in another.
3. No possibility of mass uploading files except when in a folder.
4. No possibility of customizing an activity or resource per-teacher. If any, is either school-wide or nothing.
5. I need a custom Web font (for some language I teach) but it's extremely difficult to configure that school-wide. Teacher-specific it's just impossible.
and the laundry list could go on and on and on. These are little details, but enormous time wasters.