But it is. That and useful features. Both of which Office has, and GSuite has not.
I don't remember the name of that "Word lite" program that was included with Windows for free around Vista/7, which could open less sophisticated .doc files and was a default binding for .rtf files. But compared to Microsoft Office, GSuite is like that program, but on the web.
Meanwhile, the killer app of G Docs (collaboration) is a very frequently unanswered need. People emailing attachments with ridiculous names like "contract_v2_final_finalforreal.docx", making conflicting edits that cannot be reconciled, carrying USB sticks around because their PPT presentation is too big for email and they can never figure out how to use shared folders, etc.
Word has a lot of features and, for certain publishing needs, these are important.
But what gsuite adds is usability. You no longer need shared drives. You no longer need to email docs around, you no longer need Spec_new_v3_new.doc.
I don't even need my computer any more, I can use anyone's.
I also don't need the immense amount of publishing and formatting options word provides. What I need to do is create documents that can be shared and collaborated on easily.