Nobody would care if they released a "new" spreadsheet app that did calculations, but with innovative features still on the to do list.
Grid is taking the right approach and personally I think it looks sexy as hell.
But that wasn't the point, IMvHO the point was that if it doesn't walk/talk/act/etc. like a spreadsheet, don't call it a spreadsheet and confuse your users when the basic feature that has been in spreadsheet's since VisiCalc is missing. Call it what it's called, the Grid and leave it there.
Yes, but it is, simultaneously, in its current incarnation, defining what spreadheet apps can't do.
Sexy sells for the genral public, but as other have pointed out, in the enterprise, sexy is much less important. More important is functionality. Maybe in it's next iteration, it will meet the demands of the office worker, currently, I don't see that, beyond helping coordinate parties or meetings.