It's been a couple years since I've used it, and I didn't feel it was a comparable alternative. It's decent for about 80% of spreadsheet users, but the keyboard shortcuts were lacking and it was missing some functions that I rely on.

For keyboard shortcuts, most Excel power users don't use the mouse, so while it sound trivial, it's really hard to feel productive when you have to hunt around for the right button to click.

From an enterprise perspective, Excel is so entrenched it would be a 5-10 year effort to port existing spreadsheets to sheets. Practically speaking, most companies wouldn't see the benefit.