I don't see low-code and LLMs really competing with each other. It may be true for quick throwaway projects, but they solve different problems and can potentially be used together.
With low-code, users operate at a high abstraction level and get a deterministic output. You're fully in control of what the result will be. With LLMs you operate at an even higher abstraction level – just a prompt in plain English – but the output is non-deterministic.
So if you want fine control, you need to check line by line what it produced. I think it gets interesting if LLMs generate low-code instead of code. Users get the speed advantage of AI generation, but they can still understand and control what the software is doing.
What is your low-code service?
/!\ Disclaimer, I'm building in this space[0].