As chiii already pointed out, you are looking at the wrong end of the spectrum.

Decision in Enterprise organizations are not done by the end user and non of your options, not even Google Docs, offers the equality of features.

M365 is far more than just Word, Excel, Outlook, Teams (apart from some apps depending on the M365 tier you are in like Access, Project, Visio etc.), you buy a whole workspace. Users can seamlessly share and work together on documents, not only in their organization but also with others. It's easy to process information from one app to the other etc.

Yes, Google Docs might be the closest thing when it comes to features (but no match), however, looking at local restrictions and laws, Microsoft is one of the few companies that can host you M365 solution in an environment that, for example, matches european laws.

And that is the big problem, there are no alternatives for companies that are already on M365 and using the features of it.