Anecdotal, my previous employer had a contract once for a gas storage / exchange, for years their whole business relied on an Excel sheet (basically tracking gas storage transactions from various customers). I don't remember why but they decided to migrate that to a proper application, I think it took a full development team two years to build in all.

But it's likely that, as these things go, they added much more features and visualizations on top instead of just a like-for-like replacement.

TL;DR that company was bootstrapped successfully on just a spreadsheet.