Rishank,
Thanks for your comment. Do you have any actual samples that impacted your tenant where ATP is turned on and missed a PhishPoint threat? If so, please create a support ticket we'll be happy to take a look.
If you are just basing your comment because of the recent article, you should note that they do not mention any of our services and simply make a blanket statement that we don't have protection for PhishPoint.
ATP is designed to stop PhishPoint and does. The company that wrote that report has historically written blog posts to create Fear, Uncertainty, and Doubt (FUD) in Office 365 security to help market and sell their own products. We see one of their blogs on something that they claim Office 365 misses almost every month. It is nothing new, and it not true.
Please reach out to your account rep who can go into the details on how Office 365 ATP is designed to protect against PhishPoint. You can also read our support article here:
https://support.office.com/en-us/article/office-365-atp-for-sharepoint-onedrive-and-microsoft-teams-26261670-db33-4c53-b125-af0662c34607
Thanks.