I moved away from it because:

• Too hard for normals (I know, but they won't use it and what good is a chat app without contacts)
• Pisses metadata to any server you federate with
• Including matrix [.] org which as the "main instance" you almost have yo federate with, which is owned by The Matrix Foundation, which started as a project at Amdocs before breaking off, which is a Mossad affiliated company that infiltrated American telcom networks long ago, which I don't find particularly trustworthy to have had any involvement with a secure messaging app that pisses metadata that Mossad "totally isn't" spying on (I have no proof but you don't either). They may not be, but it's too close for comfort.
• In the public rooms there's a CP problem. Can't recommend that shit to friends/family I'll look like a goddamn pedo if they see someone post that before it gets removed/banned. Not fair but it is what it is.

It's a fine alternative. While not super secure it is decentralized which is nice.

The biggest problem I think is that it isn't very easy to use, I think it's a better replacement for discord rather than instant messages.