> 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.

And at the end of the day, it would have worse performance than Excel both in calculation speed and _much_ worse UI. One of the reasons Excel is so much better than Sheets is speed. Insurance companies spend hundreds of thousands of dollars a year on actuaries. Even if Excel cost them $500/year/user, it would be easily worth it for actuarial departments.