I'm also sure eventually it will. It's taking longer than expected, but honestly I didn't think Matter would make it this far. None of the other collabrative efforts did, so they at least have that going for them.
Z-Wave was pretty awful in the beginning and it's less awful now. WiFi has become pretty reliable too. Zigbee wasn't so great either, and now (personal experience and opinion here) it's one of the most stable, aside from the fully proprietary types like Insteon and Lutron's Clear Connect protocol.
I am new to the home automation game and I use primarily zigbee and it has been rock solid for me, but I don't have older times to compare to. I have 6 z-wave smoke detectors but have honestly not fooled with Z-Wave because of the "ghost" talk and that is just one headache I don't want it have to fool with. It is more my fear of it I think than the actual issue itself.
Matter over WiFi has came a long way since I started this a year ago. When I first got into it all the big box stores around me had all their matter over wifi stuff on clearance because it didn't sale. A couple have gotten a few things back but most have not. As you can guess no one has matter over thread. So yes I am like you I am surprised matter has made it this far.