Excel users don't think that way, I guess. Remapping keys requires a registry update on Windows, which many of my windows-at-work friends don't get access to. Even if they did, they might not trust themselves to make registry updates. Popping the key off is easy, secure, and effective.
A registry key? It’s incredibly you can change keyboard layout but not key bindings easily.
A 2-line autohotkey script would be enough to disable the F1 key in just Excel. You can even compile it down to a single copyable binary.
But your users are all trained not to run random scripts or binaries, right? ...right? ;)
If IT has your computer locked down, it's way easier to just pry the thing off.
Huh, I had no idea Windows has no easy way to remap keys.
What's the downside of not being able to hit F1? Taking the keycap off is simple and effective.