Example: how can I quickly discern who changed an Excel formula and when in an old version of Excel?
It's interesting to observe how banks and consultancies "version up" spreadsheets and slide decks by copying the document (plus all supporting documents) and incrementing a version in the name. And also interesting to observe that's worked well enough for quite a long time.
I tried getting execs to use markdown and rst with git and phabricator for version control/review/approval but just haven't succeeded yet.
It seems like businesses forgo office suite solutions with better version control due to concerns over file hosting location though
Have you looked at something like xltrail (https://www.xltrail.com) or do you think not being integrated with your normal file storage is a showstopper? Looks like xltrail is its own source of truth.
Ours is a cloud-based spreadsheet tool, built to make collaboration easier.
Version History in Zoho Sheet helps you keep track of the different versions of your spreadsheets. You can revisit the automatically saved versions, restore older versions, or mark important versions of a spreadsheet. The Change Log against each version will let you know what changes have been made to the version, and by whom.
About the version controls, the Audit Trail would help you view and single out changes made to the spreadsheet. Be it change made to a specific a range, made during the said period, made to a specific sheet or even the changes made by a single user.
With complete Excel compatibility, better and fine-grained collaboration controls, an AI-powered data assistant and the ability to move data across apps seamlessly, I think Zoho Sheet should serve as the right alternative :)
Do give us a try! Here's our website - https://www.zoho.com/sheet/
Ugh. The linked wikipedia page  is bizarre. The "wide table" form is far more practical than the "one possible tidy version": if you want to actually compute something for each maker based on observations, you can do so easily. And they don't describe at all why one might think the "one possible tidy version" is superior. No wonder many of these files are not in the suggested format; it's stupid.