When they screw up -- they screw up BIG.
A friend of mine is an IT manager for the major hospital in the region. Two days ago they had a crisis -- Office 365 was down. And, since the hospital had drunk the Kool-Aid and switched over to the subscription path rather than buying masses of desktop licenses for Office 2016 or Office 2019, that meant that, basically, the hospital was out of business. Medical records weren't affected because those go through another system (EPIC), but nobody could get into any Office 365 applications.
It turns out that the problem was entirely on Microsoft. They made some change, somewhere, that borked the user permissions database. It didn't only affect my friend's hospital -- apparently it was national (or maybe even international).
I'm so glad I didn't listen to him and subscribe to Office 365. I'm a dinosaur. I want my software to be on MY computer, so I can run it when and where I want. I run a mix of Office 2019, Office 2016, and even Office 2010 (on my no-name, 32-bit Windows tablet). They are all perpetual licenses -- no subscriptions involved. I don't need my computer to call home and ask Mommy if I can use Word or Excel today.