Enormously!

There are lots of data manipulation tasks I've run into at client or customer sites where, if I had my druthers, I'd use perl or python -- but there's no way to get those in the environment. But Excel is there, and Excel has VBA and a strong API.

If you internalize how Excel works (which is to say: you use the native concepts and don't just leap to how you might do it in perl), there's great power available there. I've written things in Excel with abstractions and class structures I'd be proud to have implemented in "better" languages.

I've also seen "normal" end users discover this power, and find it a tremendous boon to their day to day working life. (This was also true 35 years ago with Lotus macros.) People who would never think of themselves as programmers still have muscle memory for Alt-F11.