You've nailed it right on the head there though, when offered a bloated solution, people will 'subset', when offered something small and powerful people will customize.
No, that's still not my point. Each user has a different subset of Word. Hence, the only set that contains all of the features that all users use is Word itself. If everyone uses a different subset, it's not accurate to call it bloated, too large, or complain it has unnecessary features. All features are necessary for someone.