It looks like all of Office is being installed, but it's only installing Skype for Business.
When you go to install Skype for Business 2016, you'll see this page, which indicates that you're only going to install Skype for Business: When you choose Install, the Office installer will start. Download Skype for Business across all your devices Connect with your team anywhere using clients across Windows, Mac, iOS, and Android™, or bring remote participants into meeting spaces of all sizes with Skype for Business. This allows you to retrieve your contact list from local directory services such as the Microsoft Exchange Server and Microsoft Outlook. It was designed by Microsoft for the Microsoft Office suite.
Skype for Business is an enterprise software that offers instant messaging, audio calling, and voice conferencing capabilities. We support the use of all built-in audio and video devices.
The Skype for Business on Mac client requires Mac OS X El Capitan and higher, and uses at least 100MB of disk space. Hardware and software requirements for Skype for Business on Mac. Moreover, Microsoft offers five Office editions available through volume licensing (more than 5 licenses): Standard, Professional Plus, Office 365 Business, Office 365 Business Premium, Office 365 Business Essentials.The Skype for Business on Mac Client is available for download. Works for 5 PCs or Macs, 5 tablets, 5 phones. Office 365 Personal – Best for households.Works for 1 PC or Mac, 1 tablet, 1 phone. Office 365 Home – Best for individuals.Home and Business Edition – Same as “Home and Student” plus Outlook.Home and Student Edition – Include: Word, Excel, PowerPoint, OneNote.Microsoft Office 2016 is available in four editions for home users: Office 2016 for Mac is packed with less apps compared to Windows edition: Skype for business in 2016 – Integrated communications client (formerly Microsoft Lync).Microsoft Publisher 2016 – Desktop publishing application.Microsoft PowerPoint 2016 – Presentation program.Microsoft Outlook 2016 – Personal information manager.
It's featuring a full Retina display support, making your Office documents look sharper and more vibrant. Microsoft Office 2016 for Mac provides the best of both worlds for Mac users – the familiar Office experience paired with the best of Mac.
It's the successor to Office 2013 and was preceded by Office 2019. It can open your applications, documents anywhere, across multiple devices. Microsoft Office 2016 (Office 16) is one of Microsoft’s most popular products that provides a complete, cross-platform, cross-device solution for the modern workplace, with smart tools for individuals, teams, and businesses.