In a vacuum, it would be a decent replacement.
In fact, MS Office 365 is getting worse every month.
However, the world still can't seem to stop sucking Microsoft's cock.
So, to turn in an assignment in university, it has to be done in Microsoft Office.
Maybe if you write it in another program, the anti-plagiarism software will accept it, but you don't know that in advance.
And if it doesn't, your assignment counts as not turned in on time.
And in business, the old saying "no one ever got fired for buying IBM" still holds true.
Other solutions exist, but if the head of the IT department pitches ditching Microsoft, and the project fails, they risk their job.
While simply telling the C-Suite "This is how much licensing costs per year" is the safe option.