Most models do NOT take that many tabs, you can build a toy model near instantly - the production line from finished model and output to publishable material is a few shortcuts away.
Having an analyst, write that same thing using Jupyter? From an accounts perspective? Man, I’d want to see it in a spread sheet. It’s just simpler, or more familiar, to debug accounting information in a spread sheet.
The idea that we are going to see all those analysts pick up code - over excel - is possible, but I’d say less likely.
I’d suspect that the idea of python inside of excel, is a winner. But given that excel is working with its own data model and data tools with power BI, or with their new Lambda function, I’d say they are also working to keep people happy within the excel ecosystem.
Interestingly, this is a version of the Bloomberg terminal debate - the terminal does everything, any upstart can only do a small part of the BB offering, allowing BB to always be relevant if not dominant.