I have extensive experience with both and the main benefit Excel has over Google Sheets (in my opinion) is the amount of rows you can handle all at once. With Excel you can manipulate 200k rows easily. The same can not be said with Google sheets due to the fact that it remains a cloud based tool.
I found Google sheet to be enough though in 90% of my cases (may change depending on what you usually work on). The scripting ecosystem google sheets has is amazing (apps scripts and various python libraries) and is much stronger compared to Excel.
Updating a cell in Excel is a CPU round trip, whereas updating a cell in Sheets is a network round trip. An operation that touches as few as 1000 lines (e.g. autofill a large range, change a value that feeds into many cells) incurs many seconds of latency as it's fed through the cloud and the new cell data is refreshed. The more rows you have, the slower the response time.
