In the settings, excluded applications refers to applications that we rarely use and so, should be excluded from the application switcher.
There is an option under the “quit all other applications” snd “quit all applications” macros to quit applications on the excluded applications list.
I think the quit applications excluded list should be separate from the application switcher excluded list because the applications I will like to exclude from quitting are frequently used applications like iTunes and Safari. And, I will also like to be able to switch to frequently used apps using the application switcher macro.