In reality, Excel is the only reason Microsoft still exists.
Excel is how they lure you in. Excel really is the best spreadsheet, its the only one every doc you are sent works with, but also the one people know inside and out. And if you are into Pivot tables, PowerQuery, etc there is just no escaping it. You are utterly stuck.
But here is how they get you: its not much more to rent the whole office suite compared to just Excel. And as long as you are into it that far, Outlook and Teams are much cheaper than GSuite + Slack. And still...okish? No, not really. But we pretend. And it wouldn't happen without Excel.