Oh, gosh yes. I remember coming from Wheaton, which uses Blackboard, to grad school at Missouri, which uses WebCT, and asking myself, "How can both of these programs possibly be so bad?" Then I read that the companies had recently moerged, and my question was answered. No competition means no innovation.
Amen to this. At the Mount we've recently switched from Blackboard to Moodle, which is open-source and saves us about $35k a year.