Spreadsheets are definitely already the greatest low-code tool of all time. Not sure what innovations you're looking for. There have been all sorts of advanced features added to excel over the years, some requiring more code to work with than others. Like power query and power pivot.

I think what makes spreadsheets as popular as they are is the flexibility. Most low-code solutions sacrifice too much power, which causes users to get frustrated whenever something outside of the normal workflow happens.