Channels, threads & search
Element
Threads, reactions, polls, attachments and 'Unlimited data history' are on the record with no stated exclusion — but search, the thing that finds a decision made eighteen months ago, appears nowhere on the captured pages, nor do mentions, edit history, pins or a human-readable export of a conversation. I score what is written, not what Matrix is rumoured to do, and search is not written.
Mattermost
Channels, real threads and a documented thread API are evidenced, and at least the search cap is printed rather than hidden: core search up to three million posts on Professional, enterprise search beyond three million on Enterprise. I found no public information on pinned or saved items, mentions and reactions, or search filters by channel, person and date, and the thread-move endpoint is flagged as beta. Default behaviour retains every message including edits and deletes plus all files, so the history itself appears uncapped.