Excel is not the "best" tool for most of what it is made to do
But it is the available tool for the majority of people out there - it is plenty good enough to get most of what most people want to get done with it done ... so they use it
I remember in the late 90s using Excel (5.0, at the time) for a variety of statistical operations
...all of which I was informed by the in-house SPSS expert were "not possible to do" in Excel
Is importing your data into Tableau, or a database and using PowerBI, or into a time-series analysis tool like Splunk or ELK "better"? In the strict sense of the word ... probably
But the point remains: Excel is good enough to get it done