Dani did this just to annoy me.
While I agree that phpBB 2.0.x offers few features that most other boards offer, it's important to keep in perspective that it's quite old - several years or more in fact.
phpBB 2.2, the newest version they plan to release, offers many more features, in fact practically all those that most people require of a forum (including some new ones that neither vB or IPB offer

). But the developers been very careful not to "overburden" the software - they like to think of it strictly of forum software, and therefore decline to add features such as calendars and so forth - this means that phpBB 2.1 (development version of 2.2, as per Linux Version Numbering Scheme) runs very quickly compared to say, vB, which has every feature under the sun thrown in

.
Though one thing I might add is that subSilver, the phpBB default style looks far more "professional" than vB's. But that's just a matter of opinion.