There’s nothing really wrong with Word that isn’t wrong with every other word processor, but it’s really a secretarial and desktop publishing application. When taking notes, you don’t need all the bulk and expense. When writing, a simple text editor with word wrap and a little markup is cheaper and creates smaller files that are less prone to corruption and obsolescence.

That being said, I own Word and the rest of the Microsoft Office suite because it’s a near-universal standard and Excel is excellent at what it does.