No, as the other comment mentioned. But I’ve heard of more than a few customers running their own “server excel workflow” where they have an instances of excel.exe running a VBA macro that talks to a web server (and does some processing).
While working at MS I remember someone in the office team saying that the original version of Excel online spun to the actual Excel backend and had it output HTML instead of the usual win32 UI. Was I misinformed by chance?