Is it just me or all academic course management systems(CMS) suck (aka Blackboard, webct, moodle)

I am sure many of you are familiar with WebCT/blackboard. Your current/old university most likely uses either webct or blackboard. If you know what I am talking about, these CMS just plain suck. They don't follow web standards, they have a horrible user experience, they are not easy to setup, and most importantly they are ridiculously expensive.

Many of us are focusing on building amazing innovate apps/services, but I don't think any one has given these companies competition.

This is one killer app this is missing from our web ecosystem.

I really want to do something about it and want some feedback from you guys.