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You can. It’s expensive, but perpetual licences for Office still exist. The Home edition is €150, the professional edition costs €580.
I mean Excel specifically, not the whole suite. I don’t need PowerPoint or a word processor, I’d rather it not be included in the price at all.
Also, they’ve made OneDrive a requirement for auto-saving on 365, not sure if that’s the case for the perpetual licenses, but if so, that’s a deal breaker for me. There will never be a Microsoft account associated with my Windows machine, period.