Aside from being a native app which is faster and more reliable, and works without an internet connection, and you can be confident that Office will always open

Aside from being a native app which is faster and more reliable, and works without an internet connection, and you can be confident that Office will always open a document you've been sent as intended with all features. Aide from that, the main missing features are in excel. Sheets is missing hundreds of functions and lots of customisation/features in its charts, pivot tables, and data analysis functionality. It also can't handle large data sets (30k+ rows) which you'll run into regularly with any kind of data logging. It is possible you will never use these functions, but the entire professional world runs on excel sheets and registers (even though there is probably a tool somewhere that would work better for individual use cases). The universal compatibility is very valuable and the cost is negligible for businesses.