I do believe a browser app can do pretty much the same as a native one, but I agree that the important bit is they didn't see the big picture: mostly free tech, no installation, safer, low mantainance, out-of-the-box truly client server, etc.
Actually the web now is 100X more beautiful and responsive than at that time. I mean what you can do with an intranet server, not the radioactive media monstrosities.
Not really a spreadsheet person, I can believe Excel is better than Sheets. But is web vs native the reason?