1. I don't think you understand what "ubiquitous" means. Was Excel present at all? Yes? Well, there you go.
2. There's no "maybe" about Excel's accessible power. You have a bias to coding, which is predictable here, but "just learn to code" is not the answer for most people who just want to ask questions of the dataset. Excel does this for them. So yes, if you need powerful tools, spreadsheets absolutely ARE VERY OFTEN THE SOLUTION.
3. The power available to someone who learned to code at 12 is one thing, but that power is fundamentally alien and totally unapproachable to the average MBA in finance. And consequently it's entirely irrelevant. OTOH, Excel with its host of data science add-ins is HIGHLY available and will allow the user to get answers without having to learn to code. This is power.
My comment re: "as you sneeringly suggest" was 100% directed at pknomad, who snarked that the only people using something as tragically unhip as spreadsheets were in the midwest -- i.e., out of step with the mainstream and tied to ways of the past.
I stand by that comment without reservation, but it wasn't directed at YOU given that it was a reply to someone else.