Someone already said the explanation very long back. "No code" is a label for the end users to feel attracted to features that would otherwise need an actual developer to sitdown and write code.
For example, I have a software to use a GUI to call some python scripts. If I wanted I could advertise it as a "No code tool that allows you to [Insert what the Python scripts do] without a single line of code".
But for the technical users is just a regular piece of software with parameters and dynamic abstractions.
It's not a real category for software.