There is, perhaps surprisingly (or not), already a relevant XKCD mentioning this feature while poking fun at the computational abominations that were already possible in Excel:
On that note, TFA claims that the introduction of LAMBDA finally makes Excel Turing complete, unlike the kind of Turing machine simulators the stick figure is referring to in the XKCD comic...
> (In contrast, Felienne Hermans’s lovely blog post about writing a Turing machine in Excel doesn’t, strictly speaking, establish Turing completeness because it uses successive rows for successive states, so the number of steps is limited by the number of rows.)