I love that little nugget of info at the end. You could originally run excel standalone without an OS and it came with windows 2.1 bundled
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And of course the subject of so many BSOD photos…
Those are probably CE and not PE?
https://en.wikipedia.org/wiki/Windows_Embedded_Compact
or Embed based on CE
You could probably build a really nice UI atop of it if one were so inclined. To prevent people from doing this as a way to bypass Windows licensing, there is a timer that will cause WinPE to periodically reboot itself if you leave it running.
It was probably embedded standard based on NT/XP/7