G Suite is very appealing over MS Office with the collaboration and version history features until you experience waiting MINUTES for spreadsheets to update. If Google moved some of the processing from the user's browser to their servers then, I believe, more people would make the switch.
Office on the web also has the same collaboration features now, and has had for years. Google's real time collaboration is slightly better, but I've worked in organizations that use Office and organizations that use Google. gSuite offline mode makes for many unproductive business flights (ie it simply does not work properly). Large spreadsheets choke up Sheets as you mention.
