FWIW I have a friend who works with market analysis and his excel scripts save an enormous amount of manual labor, today. It was the best tool for the job, for them. There are even international competitions in excel automation, which is kinda funny but also points to how far ahead Excel is for actual business uses.
Are there scaling issues? Version control issues? Absolutely! But again, that doesn’t mean that it’s not the best tool for the job.
It’s easy to mount the highest horse from a technical perspective, but as engineers it’s also our responsibility to be curious about what people are using voluntarily, and not just what we think they should be using.