Enterprise software is a catch-all term, I worked on enterprise software and none of our customers were bigger than 500 users, most were less than 100.
Enterprise software comes in a huge variety of quality.
Enterprise software is a nebulous term, I understand you hear a vague description of large software when you read it. Personally, to me, Enterprise is an entirely negative adjective, implying a software that spends more effort trying to do things it needs to do to support itself than it does trying to solve problems.
Enterprise also carries the meaning (again for me) of terribly architected software, possibly designed by someone who read about microservices and took it to the extreme that they've got an AWS lambda for doing strpad.
Or in the case of Microsoft, the software has been around since the DOS days and is nothing but legacy kludges.
Look at Office for an example. It's a 30-year-old code base and everything about it shows. Office is clearly designed to maximize the number of tick marks marketing can put in their materials, and very little else.
I would argue that Office is one of the least applicable examples here. Software with such a mind-bogglingly large install base would be very difficult to improve, but they keep doing it relatively well. Recent versions of Office are significantly better even than a couple years ago in terms of stability, performance and functionality. Find me a better desktop office suite.
I think a lot of the flack Office catches is because of how wide it casts its net. Just because you don't use a piece of functionality doesn't mean that it is bad.
I'll have to take your word for it that it's gotten better. I try to minimize my exposure to Office as much as possible.
I used to think Excel was the one exception to Office being awful until I was assigned a project creating an app in Excel using VBA and found out how incredibly fragile Excel is. This was about 6 years ago.
However, I don't think anyone thinks Office is bad because it has stuff they don't use, but that the stuff they do use either doesn't work well (e.g., Outlook) or it's too hard to use (e.g., Word).
Oh yeah, this is generally where I'd say things start to fall over. A development platform, it ain't. Generally my advice around VBA is that if you're at the stage you need anything but the simplest VBA, you probably want something else (Access for DB style work or Python/R for data munging).
Outlook has got much better - most of the previous issues around lockups and poor performance have improved if not gone away entirely. Can't speak for Exchange.
Enterprise software comes in a huge variety of quality.