I like and use Libreoffice, but its a local application. This makes it fine for working by yourself and on your own hardware. Google Docs (Gstuite) is an online application with the best collaboration integration I've seen and works on nearly any device you can open a modern browser on. Yes, both products have a word processor and a spreadsheet, but they don't serve all the same use cases.
If this new Euro-office can replicate the Gsuite offerings (that Libreoffice lacks), then Euro-office could be a great addition to the open source community.