It runs pretty much as described - you enter `=py` and it becomes a place to dump python code directly without configuring anything. The "catch" is it runs in the cloud and you need to buy the appropriate license level.

from what I understand from seeing youtube videos of it in action, you can use python functions libraries for the calculation part, but one of the strenghts of VBA was that you could interact with the Excel software itself, and that bit hasn't been replicated in python.

people liked they could set up scripts in VBA for automating routine tasks, but hated the VBA language syntax, from what I've understood, and wished they could program those functions in some more popular language like Python etc. But that isn't what this is.