As far as I know many of the players from Code joined SDC, as a response to the lack of focus on the piracy career, so find something to do and the general bile thrown at a group trying to PVP with others in a non consensual way.
I speak to a number of them a lot. The Code never went anywhere, they just got less community focus because everyone directed their hate towards SDC.
SDC definitely took a more drastic stance, and The Code was somewhat caught in an identity crisis, maybe it still is.
Game mechanics wise The Code had very little to stand on because of the lackluster piracy features and the numerous problems the profession has. I had to scream at Sandro just to get the hatch breaker to go through shields to deal with the 15 sec log.
Because of that focus of piracy shifted toward more PvP than sheer piracy, which mimics SDC. As a result, the organization and its members underwent a change. Not sure what it's looking like now, not my organization, not my problem anymore.