Sure it does, it competes on many fronts like Office (vs docs), Sharepoint (vs Google Drive), Azure (vs GCP) and many others.
Most of these have a direct relationship to Chrome vs. Edge - for example the Google workspace suite (docs, sheets etc) comes pre-bundled with Chrome whereas Office Online needs to be downloaded like any other website by the user.
Most of these have a direct relationship to Chrome vs. Edge - for example the Google workspace suite (docs, sheets etc) comes pre-bundled with Chrome whereas Office Online needs to be downloaded like any other website by the user.