It seems to be a case of 'right-tool-right-job' rather than a blanket rule that no-code is good/bad.
I actually think no-code is incredibly powerful when applied by the right person to the correct problem, and will run circles around a custom-developed app in terms of cost, time and flexibility. If you apply it to the wrong problem then of course you aren't going to get the same outcome, like with any technology. I think the mistake people often make is thinking that no-code aims to eliminate all-code, but like any development tool it just fits a certain niche well.