I'm new to this thread--came upon it when doing a google search for how to add a unified in-box to PC version of MS365 Outlook app. I'm also flabbergasted that the feature doesn't exist, especially considering that I can do this on my Android Phone Outlook App. I decided to use the work-around mentioned earlier to put all Inboxes individually into my Favorites section, so at least I can see when different accounts have new mail without scrolling thru all accounts.
There was an earlier comment that MS has a junior team working on MS Outlook. That's almost certainly true. What engineer or marketing high-flier would want to work on a legacy product? As an engineer myself, I'm certain that it would not be difficult to add this feature, nor is it likely to add bugs. But the development team likely gets credit for fixing outright bugs and not creating new ones. Very unlikely that they get any credit for adding new features.
In any case, I'd like to add my voice to this group: "MS--Time to add a unified in-box!"