Layers of abstraction are powerful when they're tight and well-suited to their purpose (I'm happy to never think about memory allocation -- thank you garbage collected languages!), but when leaky or ill-suited can be very frustrating and make things harder or impossible.
It's hard -- probably impossible actually -- to build a "general purpose" abstraction layer that will work for specific purposes, but that's essentially the pitch of low code -- we don't know your specific use case, but we have a tool that will abstract away all the code previously tailored to that use case.
Now, in fairness, there's a lot of code that has too much accidental complexity in it. A good abstraction layer strips away that accidental complexity and leaves only the essential complexity that's specific to your domain and use case. But that's hard to achieve -- it takes skill and experience (and not just general experience, but specific to your domain experience) to achieve. Most companies don't have that available to them, and don't want to pay rates to build teams that do have that skill set and experience. Low code holds out the promise of being a short cut to that, but clearly if your own dev team can't manage it, the odds of a generic platform doing it for you is slim to none.