I'm with you. My org tries to do so many things with excel, despite that fact that is fails and breaks on us ever single day. What is worse, is that we use excel sheets and a shared folder to monitor projects, tasks, and even track casework. I hate it so much.
Blame the software industry for still not having a decent GUI for version control.
Version control has been "solved" for the better part of 20 years but the tools are awkward and only make sense if you're a software developer.
People unironically suggest you should learn more about tree structures to understand and work with git. That's just about acceptable for developers, but for non-developers that's a complete no-go.
One day there'll be a killer GUI for git or svn (or even just basic whole-file linear version histories) but until then, people are doomed to email files named like Presentation_FINAL_2_EJB_Edit.xlsx sitting under a "FINAL - DO NOT DELETE" folder.
But they all have timestamps, right? Newest is current, and then you have a time history of prior work....
(How it was explained to me once... that person swore they were worked to the bone to keep everything updated but they were SO inefficient and refused to listen to any constructive input because THIS IS HOW I HAVE TO DO IT.)