This may very well be a cool product - I like the idea of people being able to build things without code (how do they architect a DB?).
Of course, as a lot of people are pointing out, this approach doesn't scale very well. To be fair, neither did the original Twitter, and it was built on Rails. They're different levels of scale, but if all you really need is a proof of concept this could solve the "How do I find a CTO so we can build a quick app and see if anyone cares?" problem.
I'd be careful pitching it (yet) as a "we'll never need engineers again" product, as I don't think that's the case; it is incredibly slow, and it errored out for me three times (http://take.ms/iwa9W). I still haven't been able to get in.