A decade ago as an intern at Microsoft, I attended a talk by <distinguished engineer whose name I forget> about data systems. The thing I remember from it was: "In terms of total data stored, what data system do you think is the biggest in the world today? ... Probably Excel. Probably Excel by a lot."
Excel has a simple mental model combined with powerful tooling. It's the most beautiful means to get non-technical people to start to think like a programmer. An acquaintance of mine tells a great story of how Excel and VBA got him into software: https://news.ycombinator.com/item?id=7950736.
This is amazing. I also found a love for programming after i learned some spaghetti VBA to create automated sales reporting at my finance job. Finally starting up CS degree in Jan 2020.
For a lot of individuals and small businesses true databases have a tough learning curve. I commend the Excel developers for recognizing this and including things like Power Query and Power Pivot.
They aren't there to completely replace databases, but they are a decent middle-ground for meeting people where they are.