Depends what you need. Many publishers require certain features from MS Word that are not available or are not as 'compatible' in LO Writer (not that its LO's fault ;), but for most use case I would agree. Things are a bit more complicated in the case of Excel as far as I can understand what I read (edit: I don't use much spreadsheets myself).
I've quit using MS Word a few years ago, fully switching to LO Writer. There are a few issues here and there but nothing that's a deal breaker (and Word had its own issues too), and I must quite like many things in Writer—beside the app not spying on me, I mean ;)