The list of constraints (index 2) is itself a parse tree which means value cannot be applied to the output of parse. For a simple example like this, it’s just a matter of removing a level of nesting but just to illustrate….
q)show t:([]a:1 2;b:10 20);
a b
----
1 10 2 20
q)show pt:parse"select from t where a>1";
// parse tree at index 2
? `t ,,(>;`a;1) 0b ()
q)value pt // value cannot be applied
'type [0] value pt // value cannot be applied ^
q)@[pt;2;eval] // evalute the parse tree at index 2 which removes a level of nesting
? `t ,(>;`a;1) 0b ()
q)
q)value @[pt;2;eval] // value can be applied to output
a b
----
2 20
q)
q)?[t;enlist(>;`a;1);0b;()] ~ value @[pt;2;eval]
// matches manually typed functional form 1b
Some further reading which includes more complex examples https://code.kx.com/q/wp/parse-trees/