When low/no-code started its hype? 5-10 years ago? Or something like that. First release dates:
Mendix 2005
Outsystems 2001
Appian 2004 (no info before)
Quickbase 2000
Zoho Creator 2006
~20 years ago. I agree with the idea that it’s a new cool way of interaction with systems, but I also think you trust too much in our development cycles. Five years is nothing. Companies will try and fail, try and pivot, try and barely swim for years. Few of them will arrive alive at stage 2 where the real deal starts.
If it were easy, it would hit frontpages last week, because small companies and single developers can prototype things 10-100x faster than any bigcorp.