Forecasting? Yes. Dynamic formulas? Yes — much better than writing code (you’d have to write a reactive widget in Jupyter).
Most people don’t need to do ML but they need to do complicated formulas and get immediate feedback. Excel is really good at that. Libre office can do 90% of it but Excel has some advanced features that it doesn’t come close to.
How are you even going to ingest the data you want to visualize from the database it's in otherwise? It won't fit on your computer as is. You need something like Tableau to query and inspect it.
edit: Sure, let the finance people have their spreadsheets, but don't let that stuff anywhere near engineering and data science. It's a major anti-pattern.
Every F500 company has accountants, FPNA, auditors, likely even the CFO who are doing their analysis in Excel. They live and breathe it. It is their everything app which they run 40 hours a week. They know Excel, they are the 10x rockstars of their field.
It is a common refrain here that you should absolutely invest in SAAS tools at $/month if it makes your workers more productive. Even if they are not slinging code, these people already have the best tool for their job. Making them all switch to save a few bucks to a less feature complete option is hamstringing yourself.
Could many people switch without issue? Sure, but it is foolhardy to imagine a 100% cut over without enormous pain to the elite staff.
People use Excel because it is familiar, because it has distribution. They don't (care to) know any alternatives. If they'd never been familiar with Excel they wouldn't ask for it.