Excel is great until you need to fix/extend an app that is now integral to all company operations that was made 20 years ago by that guy in sales that was good at computers and has long left.
I can’t speak to what gets maintained in Excel, but compared to some Win95 program, it’s in much better shape.
Likewise the C code might eventually be written in K&R C still, make assumptions of byte ordering on the MIPS and memory access semantics of workstation it was originally targeted for, and with luck use SGIPro extensions.