The row limitation seems, to me, like an actually-good thing. Excel is for data where you might conceivably scroll up and down looking at it and 1M is definitely beyond the ability of a human even to just skim looking for something different.

An older version of Excel could only handle 64k rows and I had a client who wanted large amounts of data in Excel format. "Oh sorry, it's a Microsoft limitation," I was thrilled to say. "I have no choice but to give you a useful summarization of the data instead of 800k rows (each 1000 columns wide) of raw data."