When I first came on HN and learned about YC's motto (build something users love) this idea was reaffirmed.
[1] Google optimizes for a collaborative quick spreadsheet program (handy for consumers), and as other comments say, Microsoft focuses on pro spreadsheet use (e.g. finance).
Honestly though, I do think Word captured a really nice standard feature set. And docs does a darn fine job of matching that set one to one. The image placement and handling can be a little wonky at times (at least the last time that I used it) but that's what one gets for trying to handle it all in html/javascript/canvas? For what it does, it's a mighty fine product.
- Always-visible word count (added recently, but missing for nearly a decade)
- Custom text styles—you can modify the existing ones, but not create new ones with new names