Isn’t Office 365 the platonic ideal of a local first software (suite) by this definition? High quality desktop apps, data saved in discrete documented file for

Isn’t Office 365 the platonic ideal of a local first software (suite) by this definition? High quality desktop apps, data saved in discrete documented file formats, optional ability to save in the cloud, the presence of collaborative editing, privacy is protected if you’re using it locally only, etc.