You need a lot more than that to handle CSV in the wild (quoting, Unicode, line termination, etc.) but the real killer I see is when it's edited by humans. The special cases for errors and inconsistencies will add up quickly; in some cases you may be able to reject invalid data but you may not have that option or an easy way to tell whether any particular value is wrong.
Excel takes that, adds some fun things like people using color and formatting to store data, and things like Excel auto-corrupting values which look like dates and may not have been noticed before you do something with the data.