I do realize that there are probably no ideal UIs for accessing such a breadth of options, and it was a valid attempt, but not really successful, imo. With some adjustment and practice by users, I believe something like Alfred within the app, with smart search and suggestions, would be a quicker and more efficient approach for tool activation. Since there has to be also a good way to discover features without explicitly searching for them, maybe something like the Start menu is the right approach - quick search, but also categories and lists of tools.
Sounds like Google Docs.
The ribbon is also entirely keyboard-drivable and fast that way. I’ve seen the data on why it was introduced; it was a scaling issue- the old toolbars simply could no longer fit all the functionality in apps like Excel, so they made them context-aware.