The fact that it predicted things like 80% of the population becoming infected was simply unrelated to code quality.
A somewhat validated code allows you to do by computational experiments what you can't by real life experiments. Very handy if one of the common end states in the experiments is "death".
Together they produced both an inaccurate estimate, and a github page full of uninformed speculation about what the problem might have been. ;)
In addition, predictions by earlier versions of the code had been peer reviewed, which is about as good as it gets outside of computer science.
The report itself wasn't formally peer reviewed either, though in the crisis mentality of March this year not many people had the patience for peer review. Frankly, most still don't if you consider the amount of news about unreviewed science that get published.
See for example https://news.ycombinator.com/item?id=23099386
But how useful was the model? It showed that the virus would spread exponentially, but we knew that. Is there anything that it showed that we didn't know when they programmed it, with constants tuned to what they expected?
https://en.wikipedia.org/wiki/CovidSim
The question is whether it's useful to have a model at all, or whether it's better to just reason about it from first principles. If a basic simulation gave you a tool to explore emergent properties, perhaps some theories could be generalised to apply to real economies? Or maybe not, I don't know.