The part they should have shown was how you could have large, complex (for the time) spreadsheets and not run out of memory which was a significant advantage they had back then as DOS applications had serious memory constraints even with extended memory. A lot of heavy spreadsheet users switched to Excel for that feature alone.
Not really. This is from 1992, by then 1-2-3 was in its second version for Windows.
[1] Windows 3.0 came out in mid-1990 and 1-2-3 for Windows came out at the end of 1991. The options to run 1-2-3 for DOS under Windows until then were comically non-viable. When 1-2-3 for Windows came out, it was practically unusable for those who waited and no longer mattered for those who had already switched away.