A major open problem in understanding shallow quantum circuits (QAC$^0$) is whether they can compute Parity. We show that this question is solely about the Fourier spectrum of QAC$^0$: any QAC$^0$ circuit with non-negligible high-level Fourier mass suffices to exactly compute PARITY in QAC$^0$. Thus, proving a quantum analog of the seminal LMN theorem for AC$^0$ is necessary to bound the quantum circuit complexity of PARITY. In the other direction, LMN does not fully capture the limitations of AC$^0$. For example, despite MAJORITY having $99\%$ of its weight on low-degree Fourier coefficients, no AC$^0$ circuit can non-trivially correlate with it. In contrast, we provide a QAC$^0$ circuit that achieves $(1-o(1))$ correlation with MAJORITY, establishing the first average-case decision separation between AC$^0$ and QAC$^0$. This suggests a uniquely quantum phenomenon: unlike in the classical setting, Fourier concentration may largely characterize the power of QAC$^0$. PARITY is also known to be equivalent in QAC$^0$ to inherently quantum tasks such as preparing GHZ states to high fidelity. We extend this equivalence to a broad class of state-synthesis tasks. We demonstrate that existing metrics such as trace distance, fidelity, and mutual information are insufficient to capture these states and introduce a new measure, felinity. We prove that preparing any state with non-negligible felinity, or derived states such as poly(n)-weight Dicke states, implies PARITY $\in$ QAC$^0$.

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