How about letting me open more than one document window, then implementing bikeshed performance improvements that perhaps one in a thousand users will ever notice?
Excel doesn't allow you to do that, even though the code clearly supports it. (As others have said, you can launch multiple copies with their own windows by running the .exe manually.) As far as I can tell, it's just a matter of someone at MS being an asshat.
In any case a tab-based Web browser is a completely different sort of application than Excel.
Microsoft actually has competition now, in case they haven't noticed.