Why were they acquired at that price? What is the competitive/technological advantage that Atlassian is acquiring?

I am a little confused because at first glance their product appeared to fail to find a market.

There must be something of value here.

The only natural synergy I can see is with Arc – PMs and product people loved Arc (myself, a designer, included). There's a very interesting play to be made by capitalizing on that market but IDK if that's what Atlassian is thinking.