GA4 arrived with an event-based model that is genuinely more flexible than what came before, and a default configuration that tells you almost nothing specific to your business. The gap between those two is where most properties sit.
The practical test is simple. Can you answer, from your own GA4, which channel produced the most revenue last month, what a lead is worth by source, and where people abandon your checkout? If not, the property is collecting data rather than producing information.