Codes of Conduct can never replace good intentions, mutual respect and human decency, but in the right hands, they can be an excellent tool for bullying and abuse.
I just realized that this has been misread as "Communities should not have a Code Conduct", which is NOT what I wanted to say! Clearly, it can often be very helpful. It just cannot replace good intentions, mutual respect and human decency, and it may even sometimes be abused.