I think this is spot-on. No-code solutions allow non-technical folks in marketing and sales to build some amazing things that would have required teams of software engineers: marketing, shopping cart, and email integrations; email onboarding workflows; complex ad campaigns; better inventory and wholesale sales management; and a lot of other things I'm not creative enough to think of. I've seen an entire application prototype built by a product manager by duct taping Google Sheets, Mailchimp, and a database together with Zapier.
However, their wants always grow just beyond the no-code capabilities, and there's still a need for software engineers for things that haven't been fully solved yet.