This has been there for the past 40 years at least; there were dbase tools, case tools, rad tools, 4gl etc. One reason I know of from experience from no/low code use by companies and why they gave it up over the past 25 years I have been working professionally in software dev is not that they were too inflexible (they were but that was not the issue; companies grew around the processes, not processes around companies); it was because all of them were proprietary and they got sold and killed off. There are hardly any open source ones or stable ones (as in price/support/upkeep etc) (which you need if you want to run your corps erp etc in top for decades), especially in the past. Now it is even worse; for the 80/90s ones, when you had it locally installed, it would still work now, but with the cloud, it is just waiting for the company to shut the doors or getting sold and gone is your company infrastructure.

Even the on premise installs are not enough; you need a lot more. I saw a lot clients choosing Outsystems because you could eject to readable c# or java. Not sure if anyone ever did but I know it was used as a reason to pick them over others. At least they spent time making the ejected code looking ok: many do not have the option and then you have, at most, an on-premise blob which, probably you cannot use after the company gets sold, dies or gets into legal issues.