A fair amount of them allow for things like:

- role-based rules about views, edit rights, etc

- workflow where items flow from one role to another

- less "code" for things like dependent drop-downs...where one field drives the drop-down choices in another field. Excel can do this, but with fairly complex macros

On that last one, I imagine there's more examples where Excel stops being "low code" because you're using complex macros. It's more flexible, but that's the tradeoff.