You're talking about a couple of general, powerful features, which is exactly the kind of thing that doesn't take 5 million lines of code to implement. Collaborative editing is definitely worthwhile. Integrating a scripting language is probably worthwhile. The only way you get to a huge ball of mud codebase (other than by being bad at programming) is by having lots of things that really are isolated special cases like, IDK, one more obscure statistical distribution that you can sample from, or one more date format, or one more connector integration.
Do important general features start out looking like this kind of esoteric edge case? I don't think so, though I'm not hugely confident. I think it should've been clear in 2005 that enabling collaborative editing would have been a fundamental shift that required reworking the core of Excel, not something that a single internal team could add as a checkbox feature. I think that's probably part of why it didn't happen.
There's definitely some business value from "supports everything", and in a messy human world that can be very complex - just things like knowing the business day calendar for every country take space in code, and if you're writing a piece of software that commits to integrating with everything else then the number of integrations you have to write is more a function of politics than of engineering. But I think that part is very much on the long tail, the "last 20%".
To answer the specific question, yes, I do think Excel 2000 is as good as Excel today is. I honestly can't think of a single positive new feature (automatically suggesting tables seems cool, but I don't trust it), and the changes I did notice are mainly the ones that got in my way like the "ribbon" menu. I'm sure some businesses are getting some extra value out of today's Excel, but only in long-tail stuff.
I don't blame people for working on the long-tail things, I've done plenty of it myself. It pays the bills, it can even be good engineering. But I don't think the article is right to imply that it's where most of the business value comes from.