100%, the file format compatibility drama is long over. I have no issues at home using Excel files with LibreOffice. Microsoft has not meaningfully changed any Office file format in fifteen years, you can go all the way back to Office 2007 (with the compatibility pack) and open modern documents.
Office has no issues with ODS formats either. This is a purely performative exercise.
> you can go all the way back to Office 2007 (with the compatibility pack) and open modern documents
Great, I can open proprietary document formats with proprietary software. I think you are missing the point of this "performative exercise".
In another way, LibreCalc is a better old Excel file reader than Office 365...
Compatibility isn't the problem it's requiring proprietary tech when you've specified requiring open tech.