Microsoft is the one that needs to come up with a defensive play here, because this is an area where Excel is used in many businesses both small and large. I'm guessing Microsoft could do a better job than AWS integrating this with Excel and the Office 365 or MS Teams kind of UI to make it feel at home to their users.
On the other hand, AWS is ahead now and likely to start integrating this with the rest of their services if it takes off.
Either way, I think this can be an interesting development for a lot of half baked Excel processes that are everywhere in a typical company.