As soon as you need some more complex excel calculations, LibreOffice falls flat.
Good luck getting formatting to look correct in a .doc file opened by Microsoft Office 99% of the time.
If one depends on opening old MS documents, MS Office often fails while LibreOffice (LO) does the job -- been there, done that; e.g. book manuscripts of old professors who close to never migrate to newer versions, old calculations in Excel, etc. Formatting isn't even the prime issue there. MS Office utterly fails -- for me that's _peak incompetence_: flooding the world with a overly complex format, that they cannot reliabily open themselves.
So, depending on the context LO _might_ be an issue, or it totally is the opposite: the go-to solution to a serious problem.
Empires always fall from within. It was inconceivable for a young me to ever think of day when MS Office would be unworkable. Advance couple of decades and MS 365 Copilot is just the thing that just doesn't work. Not because somebody exploited a bug and created unviewable doc, but because MS decided to pile on bugs while leaving old ones in..