"But, why would such a popular DB like Mysql not support some important features?"
MySQL started life as a small en fast alternative to all the clunky and expensive databases like oracle.
Unfortunately their efforts soon turned to just making their database faster instead of making it better. (their todo-list just grows, they only recently implemented row-level locking and UNION)
If you surf around their website all they mention is that mysql is fast. They even go so far as to say that all the functions, that you and I and probably the rest of the database-using world find so important, really only slow the database down and should therefore not be implemented. Consequently mysql is lightning-fast, but cannot even perform a simple sub-query.
MySQL is very popular mainly due to it's marketing campaign that cleverly targets those users who are clueless about what real databases can do.
For those people, speed is all that matters, just like so many people use windows because it is convenient, not because it is good.
"Is Mysql not up to par with other DB'S?"
'par' is just a glowing dot on MySQL's horizon, they are nowhere near it 🙂
MySQL know this, and will always fallback on their default arguments: MySQL is fast and MySQL is simple, and you don't need all that fancy stuff.
And MySQL really is fast, but only because it is so limited. It can't do anything and so it doesn't have to do anything. And the less work you have to do, the faster you can be at doing it. Ofcourse the work still has to be done and if you can't do it in the database you'll have to do it in your application, so your application just gets larger and slower.
Unfortunately most people have no clue about what real databases can do, and how much work and code it saves you.
Things like true PK/FK relations with cascading delete, transactions, triggers, functions, stored procedures, rules, checks, functional indexes, partial indexes...
Ofcourse there will be peope who say: "I don't need all of those", but those are usually also the people who have never had the pleasure of working with those features.