From how I understand it, the idea behind Power Automate isn't to move programmers over to it. It's to allow other people in the business to automate their workflows without bringing in developers. No/low code systems are great for departments such as accounting and finance, they typically have some tasks that are great targets for automation, and the workers know more about the process than the developers. If the workers can create the automation without bringing in developers it can save quite a bit of resources over time. These people are also not all that keen on actually learning programming languages, source control, version control, and all of that. They just have a problem in their day-to-day work they'd like to solve.

If you want the "developer experience" (source control, some code, etc.) while also having access to the flow-based editor you should look into Azure logic apps instead.