To be fair that is a £500 microphone and should sound better. The SM58 was a revelation when it came out but other makes caught up years ago, I was working on a show that the BBC were covering, unusually the BBC had not brought the right mix of mics. For FoH we were supplied with a box full of dynamic mics and the SM58s were front and centre. The BBC man sorted to the back of the box where the "also ran" mics were, the "disposable" ones. out of the box he took a Behringer XM8500, muttering about them being much easier to EQ.
The SM58 was inferior to the Sennheiser dynamics at the time but were way cooler, the Sennheisers looked more like an ice lolly than a mic. More modern mics are better than the SM58, mics from Shure, Sennheiser, AKG, Sontronics and SE (I have to admit I have never heard or tried the SEs). However Like the Precision and the Strat, the SM58 is iconic and as such