LibreOffice works at least as well as Word on its own terms, the problem is how Microsoft deliberately breaks interoperability so you can't reliably share the documents you create on Libre with people who are going to open them with Word.

I wish. Try editing a document with tables.

LibreOffice is fine if all you are doing is writing a Dear Princess Celestia letter, but when you actually start doing advanced things, the jankiness of LibreOffice starts to become wasted effort. If I have to spend more time fighting the program than actually doing work, it's worth the money for Office. Especially at $70/year for M365, which is roughly 1-3 hours of work depending on what job and such.

Since most companies are moving their tools to web-based versions, the switch will be even easier.

Office already has extensive een versions. They're not entirely there yet, but good enough if you don't need advanced functionality.

Unfortunately the difference is huge. It's not just the cost of learning a new tool, it's that 10% of really important features are not there. For me for example it was the ability to apply a theme to an existing presentation in Impress. Well in the corporate world, it's mandatory.

Using Linux daily since 99, as my only personal OS since 2013, and still struggling with the office alternatives.

Like garbage. That’s why I haven’t invested in the time. I write large documents and do lot of research for publishing. As such learning a new tool is a pain in the ass