You are correct. The TXT export is primarily for QA'ing your attributes.
If you want to do bulk edits to attributes in excel you have to export it to an XML file do some vodoo magic to get it into an excel format, make edits and then vodoo it back to the attribute xml format. There is no proper workflow for this.
There was an Italian guys playing around with this. Check out this article:
AC13 - AC23.7000 / AC26.4019 | Python, GDL, VBA, PHP, SQL, CSS
Certified Graphisoft BIM Manger (2022)
Win 10, i9-9900K, 32GB, Quadro P2200, 500GB NVMe