Choosing the right project tool

MS simply has too many tools for the job and no feature parity yet.

Over time we have worked with Project for the web , Project Online (Project Server), Planner and Azure DevOps Boards. I'm moving into a new project with a new team to select the right tool for them going forward.

Based on recent announcements Project for the web and Planner will merge and get feature parity, is this correct? If this is the case it seems like making a choice between the two and going with Planner would be the rational decision. Any other opinions related to a choice between these?

Based on all my research it looks like Project Online (Project Server) has a limited life, is this correct?  Project for the web and Project Online - Microsoft Support

What I really liked about Project Server is that it is a pretty complete portfolio management tool. Using Planner still makes it difficult to do resource planning across a portfolio of projects. Are there any good resources that help bridge that gap? I think the planner integration with To Do helps the resources to see what is assigned but this doesn't really help managers who are managing resources across multiple projects. The other tools also lack the ability to manage budgets or track project costs.

If you were starting with a new team what tool would you choose and why? Am I better off looking outside of the Microsoft stack because they are so confusing and incomplete?