DOS Microsoft Word was before Excel I think.
It was .... well, basically unusably horrible. As you typed, it would swap stuff in/out from floppy disk; as you might imagine, this made even just entering text an excruciating experience.
Luckily for MS, systems eventually got more memory and hard disks...
Of course, this wasn't Microsoft's fault - rather the idiotic salesman who had sold all of this without checking with anyone whether it would work or not.