This image function looks great a first sight but in fact is quiet useless, at least for what I was hoping it could be used for. Maybe for students who use internet sources for their homework, it could be helpful. But we work in reliability engineering and do root cause analysis. We add pictures of physical evidence, of technical drawings, of components or copied graphs from other reports, then share it with other departments within the company or customers. Linking to a sharepoint or onedrive folder also isn't possible, I would have to leave open directories for the whole company with sensitive information about customers.
As suggested before, my preferred option is the have an in-workbook storage folder. Additionally it would be great to be able to zoom in on certain parts of the images, that way you store the image once and could reuse it to show different aspects of it.
And thanks anyway, the excel team has released so many cool functions the last few years that I am struggling to keep up and learn them all.