I would say an overwhelming majority of corporate users don't care about creating their own apps or work flows or whatever else. They care about the PowerPoint or excel sheet they are actively working on for their next meeting. Where this stuff is helpful is in the business side analyst jobs, the folks who produce the data for the aforementioned persons PowerPoint. That's where most advanced excel is happening and a subset of those folks will go further and use some of these new tools. It's the folks who have built access databases to do some of their work. And future state it will probably end up like all those orphaned access databases that are all over corporate America running some small but important reporting for some business unit who could never get hours with IT to actually get a real production solution.

Given how fiddly Excel is, which leads to extremely frustrated formula-writers and depressed advanced users, I wouldn't call Excel low-code. A rite of passage of learning programming pre-Internet, Google, and Stack Overflow (and Clang/llvm) is spending hours pouring over code, just to find out it was a missing semicolon or errant " symbol. Excel programmers go through similar shit with some regularity still (owing to the fact that it's not considered "real" programming and proper tools are elusive). (You don't have to go through that be a programmer, but there's comradery from having gone through similar rites of passage.)

Good point. Excel is no more low-code than SQL.