Its interface is pretty horrible but it's serviceable for basic video editing, and parameters can be keyframed, so that's something. The issue is that the video editor uses the same UI philosophy as the 3D editor... and it feels awkward. Same with the 2D editor, Grease Pencil.

I don't think it would ever be able to compete with Premiere or Da Vinci Resolve, unless they put significant resources on that stuff.

There is no better free alternative for non CAD 3D modeling, sculpting, texturing or 2D animation AFAIK. There are alternative rendering engines though.

For video editing, compositing there are free alternatives that are much better than what Blender has.