I believe that never works in practice. The thing that binds units together is also code. Only while designing / implementing that code, you encounter the flaws in the interfaces of those units, and conclude that half of the units need to be replaced or their specifications need change.
But this approach, Microcompanies as it is called (units developed by independent companies), is also partly no-code, in that the specifications and different functional units are glued together using lawyers.
