That’s an interesting approach. The popular conception from the evangelists is that code is law, because it’s meant to be a major advantage. By saying it’s not, what real benefits does a DAO/on chain contract offer? Certainly nothing like legal recourse like you’d get in an actual court in the real world.
And ultimately, it appears that code is neither law nor law enforcement. It’s just an opportunity for hackers to occasionally wipe everyone out and a community to scramble to roll things back with significant mud on face
The "real world" is full of corrupt institutions and people in positions of authority that are not working with the interests of ordinary citizens in mind.
The "real world" is also a place where people have ubiquitous access to the internet, but don't have access to banking systems, easy credit or fast/cheap ways to settle minor disputes.
For these situations, a system that can provide an alternative to the established, well-functioning institutions is better than nothing, even if flawed.
Anyway, I think that "Code is law" is a bad phrase. A more appropriate (but still silly) phrase would be "Code is law enforcement". The laws themselves still need to be written by people, should still be subject to context-dependent interpretation and should still have room to be changed.