Not true for all such tools. Though like a sibling comment suggests, part of the issue is that no-code is defined too broadly to include everything under the sun.

I work on a no-code tool that checks those specific boxes (shameless plug: https://www.plasmic.app), but the use case is very different from Bubble. The key is that it explicitly doesn't try to replace all code, and was designed from the ground up to integrate deeply with existing codebases. I don't think we need be the only one, other tools can also do the same. But this aspect is by far the most complex part of building this product. That, and the pressure to create vendor lock-in is real.