Unbelievable.. Microsoft to open file formats?

I just read something amazing. Apparently, Microsoft is going to open their file formats. I've long complained that Microsoft was able to maintain its monopoly because people needed to be able to use Microsoft's closed file formats with accuracy (ie you need Microsoft Word in order to communicate with everyone else who is using Word). With open file formats, now we will finally have a legitimate choice to use competing products and still be able to interact with people who are using Word.

This may finally be the end of Microsoft's unreasonable dominance in the marketplace.