Excel is a great case study. Turns out, if you give people an accessible and widely available Touring complete environment, they will manage to do pretty much anything with it. On another note, it's interesting to observe that the problems spreadsheets have are the same problems that plague poorly designed software everywhere - lack of documentation, lack of testing, lack of input validation, among others.
One of the big issues with spreadsheets is the lack of visibility. It is very hard to tell what is going on in any non-trivial spreadsheet. That something that visual data flow tools such as Alteryx, Knime and (my own) Easy Data Transform try to address. The other problem is specific to Excel. It just loves to mangle your data! The problem is so bad that geneticists have renamed some genes to stop Excel reinterpretin…
If you have not seen a spreadsheet with say dedicated data input tabs, calculation tabs where you can see and audit the work being done, output tabs, revision notes, summary sheet you haven't seen a good spreadsheet.