The timing is easily explained from the perspective of the New Yorker's article publication and a want to do something visible to the contrary as evidence of a willingness to improve as a community.

Hence why the CoC is a whole lot broader in scope than anything Linus has ever done. It's more of a "while we're here on this subject and have everyone's attention, let's clean house a bit."

Definitely seen the divides it's created in the communities. The CoC discussion is likely a positive thing as it is bringing up issues that need light in them. I'd like to see some evidence of the funding limitations, quotas etc.

That said, a lot of the CoC discussion rapidly goes into political discussions about meritocracy / Marxism. As I'm reading "Gulag Archipelago" at the moment, I'm starting to see some parallels in the modern world we as a species should definitely have already learnt from. The number of deaths from Marxism and Nazism is horrific.