This is a short phrased question which requires a extensive answer.
Let me start with revering to this guide: https://www.mendix.com/evaluation-guide/ This will answer a lot questions already.
Regarding the initial question about bridging the gap. For me its on 2 axis.
First: Allowing business and IT to collaborate. The nature of visual development and the ability to have a short iterative dev cycle, allows for short feedback cycles. Its not only on prototype level. but also during development of a production application. Developing an app, demo, get feedback and adjusting/refactor the model based on the feedback is very well supported. Where high-code also allows for adjustment and refactor, but requires more effort and more error prone.
Secondly Allowing non software engineers develop production worthy apps. Sure they need to learn certain development principals and over time they will become a low-code developer themself. Though the speed to Learn, adapt and contribute is a ton faster. I'm one of the examples, high school teacher to low-code developer/trainer/...
Hope my limited answer helps you
Mendix is great tool and it's matching everything that you mentioned pretty well, it's capable to do everything with ability to create custom code and widgets with JS and Java, you can build everything, but still as all other low-code platform and other "high-code" languages have special use what should be build in Mendix e.g. you don't wanna use Mendix to build games. But I'm suggesting you to do little research on Mendix website you can find answers to all your question.
Best regards, Slavko