I've also been using MS Loop a lot and it's pretty great actually. It's clearly still under development and missing a lot of features but leaving that aside, I don't think it's fair to dismiss it as a Notion clone. It's far simpler than Notion and for writing things like company handbooks that's a good thing, actually. Sometimes simpler is better. If you need all the tables as database stuff, then use Notion. If you need a simple and clean documentation source, well I've tried a lot of these kinds of apps over the years and Loop is shaping up to be one of the better ones IMO.
I say this grudgingly, BTW. I strongly resisted choosing MS for our business. But as a small company in Vietnam we get an amazing value proposition from MS 365 that isn't even close to matched by anything else. We pay about $3.50 per user and we get Teams, video conferencing, office apps, Loop, Visio, Whiteboard, SharePoint (ok that one is genuinely quite bad), and also a load of business automation stuff in the form of Workflows that I'm still exploring. Oh and Shift scheduling. OneNote. About a hundred other things that I forget right now.
Even still I resisted but the final straw was that automatic translation is included in Teams for free. As a bilingual team that's vital for us.
By contrast, just Notion would be $8 per user. I think Slack is $6 per user. Not a lot for a western tech company, but we genuinely can't afford that. MS 365 wins by being "just good enough" at _loads_ of things, and way cheaper than the competition.