Yikes!!! Viva V2007!
Actually, JuneTheSecond has used V2016 with Office 365, if I'm not mistaken. He's been reasonably successful, but has reported more issues, uncharacteristic for him.
I've not seen any praise comments from users. Microsoft would do well to bring back Chris, the designers /MVPs...people who are passionate about Visio. You're right, there are strong competitors out there...eager to steal market share.
Wapperdude