That's just what I thought when I first started using it - I was "stuck" using the wiring diagram! But now I really do like it. Very intuitive. It would probably be even easier for a person who has not programmed before since they won't have preconceived notions of linear blocks of code. There is no way to edit the underlying code as this IS the code. The compiler takes the parse tree you've drawn and generates native instructions for the PC. Took some getting used to - other GUI things I've used allow you to still see the "real" code. Like using Dreamweaver to make a webpage - you can still access the actual HTML. But with LV, that picture really is all you've got!
You can write code inside "formula nodes". For a complicated mathematical expression, it's pretty impractical to use the G code (for example, you can see some multiply and divide triangles in the above code). So it's much easier to use code as follows:
Inputs are on the left, outputs on the right. But this code actually executes SLOWER than if you drew out the complicated wiring diagram. That's just about my only beef with the performance. Other than that, it's just right for the type of stuff we do here. The program is constantly changing as the experiment evolves. And it has all sorts of bells and whistles built in for the actual interface you use when running the program - graphs, switches, lights, etc.