Yes, you’re missing a lot.
There is chroma key (for green screen purposes) and there are many transitions available.
See the transition Properties tab
See this thread ► Only one transition option now. Why? - #4 by Steve_Ledger
There is no key-frames so panning is not yet possible.
If you want something with much more (and a higher learning curve) then try Davinci Resolve. The free version has 90% of the features of the full version.