I often feel like there is an opportunity for a hybrid model. Build the app "without code" but then pay to download the code and customize it to your will / deploy on your own infrastructure.

Not saying this would happen with this company but if you don't own the code you are just (as another poster put it) renting your app. If the company you are renting from goes under or raises their prices you are out of luck and the cost of recovering might actually be higher than the cost of having just used a traditional platform in the first place.

Not saying I don't believe in those systems. I was one of the founding engineers at a company that did WYSIWYG website creation tools in the early 2000s (think Squarespace only not). I just think customers need to be aware of the concept of vendor lock in and data portability.

Edit: another important point is time to market. If your intent is to use an app like this to prove product market fit before going out and building something custom that might make a lot of sense depending on your use case.