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It's OK - You need excel installed to be able to have BOM templates, anyway. (Note that if you don't use BOM templates, and just want the spreadsheet parts database, you *can* use libre office. So no need to actually buy any extra software. Just a need to install and use freeware) I think the issue is that really for a database driven system (which this feature is really about - excel spreadsheet is just a simple way to have an easily dealt with portable 'database' on disk in your dev machine) And you do need a way to properly manage and maintain a database - for a start, database allows any kind of data to be stored, in whatever order you organise it - all defined by your manifest. So it'd be hard for them to write a tool that let you properly manage the database for an arbitrary manifest. Or write your own manifest to create a new database in the first place.
And what about big data imports and exports to/from other business systems? Also, if Altium was your only access method to a database, then stuff goes wrong, how do you rescue it? By forcing you to be responsible for the database, I think they do you a massive favour in the long run. Vault is licensed the same way as Altium Designer (and the same way as the new CST PDN plugin) 1) you pay a license fee upfront to buy a perpetual licence that you can install and use forever.
2) Altium require you to maintain a subscription on that license in perpetuity if you want to get updates ongoing. (they used to sell major version upgrades to perpetual licenses before this) So if you stop paying vault license fees you are stuck with whatever was the latest version of the vault at the time your license expired. If you have multiple licenses that you need to use (ie, a team) Then you're limited to updates to vault software by the date of the subscription that expired first. Lots of times it's easier to find the information elsewhere by googling it. Then again, they'd like you to pay for their expensive training services (a few thousand dollars for 4 days).