It may be true sometimes¹ but not universally, based on https://support.microsoft.com/en-us/office/differences-between-using-a-workbook-in-the-browser-and-in-ex

It may be true sometimes¹ but not universally, based on https://support.microsoft.com/en-us/office/differences-between-using-a-workbook-in-the-browser-and-in-excel-f0dc28ed-b85d-4e1d-be6d-5878005db3b6 https://support.microsoft.com/en-us/office/differences-betwe.... "Some features work differently in a browser window than they do in Excel. In addition, some workbook features can prevent a workbook from being viewed in a browser window." ¹ "Different applications can be used to display a workbook in a browser window. Depending on how your environment is configured, you could be using Excel for the web (part of Office for the web), Excel Web App (part of Office Web Apps on premises), or Excel Services in SharePoint Server (on premises) to view a workbook in a browser window. An IT administrator makes this decision, and it can affect which capabilities are supported when viewing a workbook in a browser window."