I feel it's the extreme of "static vs dynamic languages". In Excel, even variables (cells) are dynamic, not fixed names in a lexical scope.

The reactive programming aspect is genuinely good; I wish my business logic could be expressed declaritively and the system just reacted automatically.

I also find it fascinating to consider the looks-like-a-spreadsheet-but-statically-typed-and-scoped world (airtable is a step in this direction, for example).