Made it just as listed and it was remarkably good. The peppers and hot sauce (I used Tabasco) were great at creating that tangy, spicy taste of nacho sauce. I love it better than my potato version. Tastes great alone on chips or with my chili!
Update: I made it again and it came out really thick and not as good tasting. May be because I used steel cut oats instead of rolled oats. But it’s too thick and doesn’t have the same good cheesy flavor it did the first time.