I work in critical infrastructure planning. My organization builds software in R, Python, and other programming languages customized for these major organizations.
So many critical infrastructures, billions of dollars in planning, and just systems are built out of Excel. It's amazing. You'd assume something that services millions of people a day would have some more sophisticated and customized solution, but you're wrong.
The reason is because most people know how to use Excel. Most people know how to handle it, use it, modify it, build up from it. You don't need to get a regular support contract from a company for your custom-built spreadsheets. If something critical in that "Excel software stack" breaks (aka Microsoft Excel), most of the time you just need to reset Excel. It's amazing. You don't need a new server, you don't need support contracts, it's just like riding a bike.
In my opinion, the limitation of Excel is actually when it comes to big-data analytics. The way Excel handles large quantities of data is slow (due to the nature of it's software structure). That's where we come in and build out these models and systems. However, in the end, our data outputs will be fed back into Excel, because that's what most people are used to.
I have deep respect for Excel. After all, Excel empowers so many users who don't know how to code to provide amazing plots and perform major calculations with ease.