XLSX is awkward for scripts, databases and import tools that expect plain text. YAML is easier for people to read and edit than JSON and allows comments. XLSX is at home in spreadsheets with formulas, formatting and several sheets; YAML is the usual choice for configuration files written by people.
The first row is read as column names, and every row after it becomes one list item, keyed by those names. A header such as address.city is turned back into a nested address with a city. A workbook with a single sheet becomes a plain list; one with several sheets becomes an object keyed by sheet name.