I have pretty extensive experience in this domain.

Personally, I found there is a application complexity ceiling above which LabView was not viable. It is pretty great for rapid data collection and analysis, and it is well integrated with a variety of hardware. But once there is a few things going on at once the "backplane" abstraction becomes unhelpful.

So many vendors provide python libs these days, and python plotting is good enough in these that it is harder to justify LV.

Labview is awful, I joined a lab that had attempted to build instrumentation controls in labview. Replaced with pyvisa and was able to write much more complex controls and automation without crying.

I suspect they would agree! LabVIEW is code, just in a truly awful format.

Simulink is perhaps a better example because it is at least relatively good, unlike LabVIEW, which is the worst thing ever.

(And if you're wondering why people use it, it's because NI makes a ton of very good (and very expensive) lab equipment and the software they provide to drive it is all LabVIEW based.)