My point: Over time, I came to appreciate Excel and realize what an amazing program it is. It is accessible to pretty much anyone who knows how to use a computer, and at the same time can basically be used to create mini-programs.
That's the reason you only have the two choices you mentioned: a) do it the wrong Excel way b) do it the huge giant IT initiative way
Also, Excel does provide the ability for both the data type and foreign key constraints you mentioned.