The best part, of course, is that this mostly works, most of the time, for most busineses.
Now, the same domain experts -who still cannot code- will do the exact same thing, but AI will make the spreadsheet more stable (actual data modelling), more resilient (backup infra), more powerful (connect from/to anything), more ergonomic (actual views/UI), and generally more easy to iterate upon (constructive yet adversarial approach to conflicting change requests).
Hallucinations sure make spreadsheets nice and stable.