The "update" is that the Teams Desktop Application for Linux was discontinued last year, and the only supported way to use Teams on Linux is now to open https://teams.microsoft.com in Google Chrome or Chromium (audio/video calls don't work on Firefox).
Since Chrome/Chromium supports screen sharing with Wayland, it simply just works for me nowy while it never worked with the Elecrton-based desktop application.
Screen sharing in Wayland is possible by capturing your window/desktop with OBS and streaming it to a virtual webcam that it can create for you. It's a minor hassle, but comes with the added benefit of filtering for your webcam. I use it to remove and replace my webcam background with a plugin, and it works for me in apps that don't have that as a feature.
My WM is i3. I know sway exists, but last time I tried it was sufficiently different from i3 to be annoying.
I think overall the problem with Wayland is that there is no user facing improvement over X that I know of.
I have no doubt it's more modern, better engineered, or whatelse. But in the end, the days of fiddling endlessly with your xorg.conf are over, and X _just works_ out of the box on any distro / device.
All Wayland bring me is a switch of WM, and some bugs when screensharing, for no visible benefit.
The only hope of value add I can see with Wayland would be per-monitor DPI. But last I checked, it was hackish at best.
Well my WM for a start. It did not migrate to Wayland.
And I also need to share screen from time to time (teams, Google chat, etc), which results in a dark screen for viewers in Wayland.