> Where is Windows' equivalent of APFS / BTRFS (or even EXT4)..? NTFS is more than 20 years old by now.

There's ReFS, but a lot of NTFS features are basically baked into the filesystem API, so replacing it is hard.

That being said, NTFS works extremely well and reliable. I don't really see a compelling need to replace it (which is always a messy transition unless you're completely backwards-compatible -- but in that case, NTFS has evolved a lot already).