Here's my hot take, as a Linux distro developer with an Office356 sub: Excel is absolutely ridiculous and anyone who thinks anything in the FOSS world can compare or stand up to what Excel does is completely deluding themselves, and this is a major reason why Excel will never be replaced, or even touched, by FOSS solutions. PowerQuery is absolutely game changing (and no I will not accept "but you can cobble together awk and 5 other tools to run a preprocessing pipeline before opening your spreadsheet", that's not competition, it's a joke.)

I hate saying this considering how much LibreOffice, etc have invested -- but OTOH I imagine they understand their competition better than the average programmer who uses Office suites to track their month-to-month finances and thinks they've got it figured out.

There is the fact that actually challenging Excel as a product and implementing any competitor would technically require a substantial amount of labor and effort, on a very large scale. But that's just one part; the fact is that you can't actually win a battle unless you're willing to analyze where you've already lost. I think most FOSS users don't actually realize how badly they are losing to products like Office or even (the inferior, IMO) G-Suite. This isn't surprising in the grand scheme considering how much software freedom we've lost in the past few decades; it's just one more lost battle, but it still stings.

This isn't a situation that pleases me, but at the end of the day between an O365 family sub and the alternatives, it was very easy to make the choice given the returns I got.

TBF, depending on data size I’ve had much better results with awk and friends than with Excel.

Even Excel isn't as productivity enhancing as Excel is. Microsoft has been trying to get people into .net macros for years but a lot of places are still using VBA.