On day one the game might have 4x as many players as it will on every subsequent day. It's cheaper to have a rough launch day than it is to maintain more servers than you actually need. (Also this shit is really hard)https://twitter.com/PsycheDiver/status/1179168393053782016 …
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That sounds more like bandwidth and system problem rather than netcode (whatever that umbrella term encompasses).
these terms are all nebulous and defined differently in different places so yeah, it may be a 'systems' problem, or a 'matchmaking' problem. but at the core of it, it's often network-related code failing rather than lack of infrastructure, especially with infinite cloud scaling