I'm a huge fan of CoC's.
It allows us to codify the spirit of the law, to be used as a fall-back plan when the letter of the law is being gamed. CoC's allow judgement, in contrast to zero tolerance policies which prohibit judgement.
One of orgs I volunteer for had our own #metoo drama. Actual rape, assaults, harassment, etc. Some stomach turning stuff. It made the news. There have been some out of court settlements.
Per the bylaws, we didn't have any way to remove the perpetrator. Adopting a CoC allowed the org membership to impeach the leader. (Maybe like a vote of no confidence works in parliamentary systems.)
Concerns about CoC's being weaponized, misused, abused... Whatever. Of course there's always oversteer, friendly fire. As if abuse didn't exist before CoC's.
I happily accept those occasional failures and let the balance be figured out over time. Rather than going back to denial and inaction.
In other words, I choose 98% awesome over 100% terrible, and happily work to further reduce that 2% gap.