I'm sure Word is full of arcane backwards compatible tricks that 20% of users use, but I find it hard to differentiate the Pareto 80% of the product from Google Docs or any other competitor (LibreOffice?) Adding rich text, tables, headings and colors is pretty much a solved problem for all of these softwares. Adding images or handling more complex layouts sucks everywhere, it's not like that Word has a great user experience and the other don't. All of them are bad. IMHO, if we had any of the competitors being the de-facto standard for word processing, the vast majority of users wouldn't feel the difference. Power users would for sure, but I'm not sure they're many or they use existential features. If Word didn't have a near monopoly in office settings due to aggressive marketing, OS presence and a proprietary file format that constantly changes and never renders well outside of Microsoft products, it could disappear without anyone (save Microsoft) losing much.

Yes. That 80% you find useful is served fine by Google Docs, but there’s a good reason the enterprise overwhelmingly goes for Word, and it lives deep in that 20% and a lot of the time has zero overlap with others.