Prototyping applications on Airtable offers a rapid and flexible approach to developing high-fidelity prototypes by allowing teams to quickly create and iterate on data models, similar to how Figma works for interfaces. While Airtable provides a powerful tool for prototyping, it is important to be mindful of its limitations, such as record and API rate limits, which could affect performance if not properly scoped. Best practices for building on Airtable include creating separate development and production environments, treating Airtable as a relational database despite its ease of field addition, and isolating business logic to improve data management. Using conventions like naming calculated fields with prefixes can help maintain clarity and organization, especially as prototypes evolve into production-ready applications. Additionally, leveraging external tools like Sequin can enhance the prototyping process by simplifying data management through SQL queries, bypassing some of Airtable's API complexities. Overall, Airtable serves as a versatile platform for prototyping that, when used with structured conventions, facilitates quick iteration and scalability.