Since when has a full version of Word been available in Works? (This package doesn't include Excel, Powerpoint, or Access, either.)
The Suite includes Picture It!, a digital photo editor that is more relevant for home use that Power Point.
Read all about Microsoft Works Suite.
Those who need more calculation power that full Excel offers, or need a presentation program like PowerPoint can upgrade to Microsoft Office. If you need a full fledged database program, then Office Professional. These programs are cheap to acquire when purchasing a new computer for the retail customer and Microsoft has deep discount programs for volume based corporate purchases. If ANYONE in your household is in school, there's an Academic version available that includes everything for $158.95!
That's a lot more value from commercial software for the average user than anything offered in Open Source.