On the other hand, the whole CoC thing feels like it was created by people on a power trip, and/or as a virtue signalling instrument to appear "inclusive", and/or a convenient character assassination tool that can be selectively enforced. Keep in mind that "violation of the code of conduct" sounds much worse than "this person offended me/made me uncomfortable" even though in most cases they are used to refer to the same thing.
People for the most part know how to behave themselves, disagreements can be resolved in private between the involved parties and if someone keeps being a dick you just don't engage with them (note that a CoC will not change anything if the person intends to keep harassing their victim). We've been working fine like that, both online and in the real world without any CoC (the law is enough to deal with actually serious cases).
A CoC doesn't add anything to people already acting in good faith (other than being a thing they can be "cancelled" about), but does nothing against a dedicated malicious actor who couldn't care less about it anyway.
Someone wanting to instigate drama and intentionally get offended must've said something about "inclusivity", everyone jumped on it as a virtue-signalling tool and now here we are.