I think there is a lot of room to leverage it, though resisting the temptation to have it do your work.

You can get it to provide feedback on code quality, suggest refractors and its reasoning (with the explanation rather than the full solution), basically treating it as an always available study group.

There is probably room for a course or book on a methodology that allows students to engage in this practice, or models with prompts that forbid straight completion and just provide help aimed at students.