They're not wrong, but they don't solve anything hard either, so they'll find that there's little value to extract from no code tooling.
They live in a difficult bracket to find offering customers in: medium+ projects have most of their complexity in making the business domain model and understanding it's intricacies, well before you attempt to make a computer understand them; no code tooling only cover the latter. Small- projects live comfortably in Excel sheets, as scary as that sound for the reading cohort, it appears evident that a lot of the no code market is already captured by that, and they're not offering anything to challenge the dominant player in the space.
They live in a difficult bracket to find offering customers in: medium+ projects have most of their complexity in making the business domain model and understanding it's intricacies, well before you attempt to make a computer understand them; no code tooling only cover the latter. Small- projects live comfortably in Excel sheets, as scary as that sound for the reading cohort, it appears evident that a lot of the no code market is already captured by that, and they're not offering anything to challenge the dominant player in the space.