Keep in mind that explorer now uses 100% more resources than it did 5 years ago, but it still can not do basic things that Mac and open source competitors can do. It's almost 40 years old, and doesn't really do more than it did back then.
I don't think MS cares to be competitive at all. Here is a small list of things other file managers can do that MS would never dream of (because it would require effort):
* Batch rename files
* File metadata/tag support
* Sessions/saved layouts (sort of exists in a half finished state)
* Fish/SSH Support
* Builtin hash/checksum support
* Native dual pane views
* Customizable keyboard shortcuts
* Built-in terminal
* Handle compressed files (outside limited zip compatibility)
* Search with advanced features (offers limited support)
* File versioning
* The ability to navigate entirely with the keyboard
* File transfer queue management (think Terracopy)
* Builtin Compare/Sync
* A Preview Pane
* User adjustable UI
* etc
A number of those features do exist in Explorer, a number can be trivially added with PowerToys, but I take it you're not actually interested in truth or reality.
This might be the most unserious post I've ever seen on this site.