There is no tech giant that is more vulnerable than Microsoft is at this moment.
Most document originations will begin out of or adjacent to of LLM sessions in the near future, as everything will blur in terms of collaborating with AI agents. Microsoft has no footing (or worse, their position is terrible courtesy of copilot) and is vulnerable to death by inflection point. Windows 11 is garbage and Google + Linux may finally be coming for their desktop (no different than what AMD has managed in unwinding the former Intel monopoly in PCs).
Someone should be charging at them with a new take on Office, right now. This is where you slice them in half. Take down Office and take down Windows. They're so stupid at present that they've opened the gates to Office being destroyed, which has been their moat for 30 years.
MS's bottom line doesn't depend on how happy users are with W11, especially not power users like ourselves. W11 is just a means of selling subscriptions (office, ai, etc). The question isn't 'are users happy' it's 'will OEMs and business continue to push it?'. The answer to that is almost certainly yes. OEMs aren't going to be selling most pcs with ubuntu included any time soon. Businesses are not going to support libreoffice when MS office is the established standard.
Maybe apple could make inroads here, but they don't seem willing to give up their profit margins on overpriced hardware, and I don't think I've ever seen them release anything 'office' related that was anywhere near feature parity with MSO, and especially not cross platform.
The only danger is every once in a while one of those little footnotes becomes large enough to be a problem and you lose the market of those who do matter as well. While there are many obvious examples of where that happened, there are also a lot of cases where it didn't.