Excel has been the de facto standard for spreadsheets for a couple of decades so its user base is not because of how the office suite is priced right now, but because it is "what everyone uses".
This effect is even so powerful that despite Apple's suite (whatever it is called this year) being free, and various free online offerings exist that are adequate for a large chunk of users, Microsoft can still price licenses relatively high.
I'll have to disagree with your conclusion.
Excel has been the de facto standard for spreadsheets for a couple of decades so its user base is not because of how the office suite is priced right now, but because it is "what everyone uses".
This effect is even so powerful that despite Apple's suite (whatever it is called this year) being free, and various free online offerings exist that are adequate for a large chunk of users, Microsoft can still price licenses relatively high.