Codes of conduct are always a toxic topic. On one side there are people who think they're essential and that every last possible abuse must be expressly forbidden in an authoritative document, and on the other side there are are people who think it's another pointless piece of bureaucracy which almost nobody will read and certainly nobody will act upon.

A code of conduct might be one part of making a good community, but merely having one isn't enough and it still requires additional work to avoid pitfalls. It's a bit like the universal declaration of human rights. It exists and a lot of countries signed up to it. But it seems to me that it's routinely ignored and all sorts of abuses continue in flagrant violation.