Currently, only type and value are available in PowerApps with a Dynamics 365 DataSource. The value will only give the GUID and there is no Option for the actual name.
Although there exists a workaround with using the LookUp function and find the appropriate name in another table, this will not suffice for changing those values in the form.
Also, this workaround does not work for option sets since there is no table in the datasource for option sets. So there is no way to show the actual option set labels currently.
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