Listen, I like 'basic' as much as the next person because I agree, sometimes systems get too complicated and they're over-engineered to death.
That being said, basic shouldn't come at the expense of UX.

Tasks are very...clicky. The views are a bit of a cluster cluck. And a lot of the creature comfort quick actions you expect to be at your fingertips are buried away.
Even when taking into account things like recurring tasks, it's a bit of a nightmare. A recurring task doesn't show in the calendar, for example, for its future dates. Some will make an argument that's a "good thing" and others will refute that stance. That's fair, as it's a differing of opinion. That being said, even if you're forced to subscribe to one school of thought, I expect it to work well...but it doesn't. The only way you see future recurring tasks is by completing the current one, but what happens if you delete the task that's set to recur, simply because you don't need it to exist on that particular day? Well...there goes your recurring task set; you've broken the cycle and it will no longer recur because no such task is now in command of that; recurring tasks should really be pulled out and set on their own level in that sense, because it's way too easy to break the cycle currently. Now if you set multiple and they're not getting added to your calendar in the mix of all your other tasks - that could spell trouble.

The same sort of design philosophy is seen across other areas of the product and it just feels clunky and outdated more than anything.

There have definitely been better Project Management tools that have come and gone and I'm sure there will be others just around the bend. Yes, the $49 price point is nice, but the user limit isn't too far off what we've seen in other deals, so I don't think holding out will mean you lose out either.

This is basic, yes, but for those that want to expand or want a modular platform, or simply want an enjoyable user experience, you should look elsewhere.