That is what several Microsoft employees have been questioning and discussing on their blogs. Their feeling is that the browser is not receiving adequate attention from upper management, and that it reflects badly on Microsoft as a result.

Microsoft employee, Rory Blythe, writes...

"I think IE is horribly behind the times. When every other browser on the planet that's worth a damn supports tabbed browsing, it's just crappy that I still have to have different copies of IE open to have multiple sites open at once. As of right now, my favorite browser on the planet is Apple's Safari. That's hardly a defense of IE."

Windows Live developer and creator of RSS Bandit, Dare Obsasanjo goes on to say...

"We haven't innovated in the browser for almost a decade. Given that Microsoft views IE as a defensive option to make Windows an enticing product, there is less incentive to make it the ultimate browsing experience as products whose bread and butter is the Web browser. Why do you think there are so many Google employees working on Mozilla?"

Should Microsoft be concerned? They have faced a browser war before in the battle with Netscape that took place in the 90's. Netscape was eventually sold to AOL in 1998 and Microsoft enjoyed a 90% market share. Now Firefox which recently passed 10% in market share is poised to give Microsoft a run for their money. Microsoft Employees Ponder the Fate of Internet Explorer at ARS Technica goes into more details.

As for me, I am still using IE not because I think it is a superior product but simply because I am currently too lazy to switch. I do have Firefox installed and plan on switching eventually because I hear it is much better and I always like to help the little guys beat the giants.