https://www.bbc.com/news/technology-27407502
What I'm trying to say is: it doesn't matter what the tool is. If the process / outcome are worth it, then starting to write is much more valuable than the exact tool (that you choose to get the cool kids nodding their heads in agreement). Productivity is cool.
Someone below mentions that Excel is probably an "upgrade" from a typewriter. What. Sure, Excel has undo and arbitrary text insertion, but so does Photoshop. Ask yourself if Photoshop would be an upgrade from a typewriter just because it's newer. At some point, the impedance mismatch wrt the actual task it was conceived for is so great that it will dominate any equation related to suitability for a particular purpose. So even the most recent version of Excel is still more ill-suited for writing than things actually made for writing, like typewriters and old word processors.