“Code” is just a file in a computer, just like music, photos etc. copying it does not damage or erase the original, so it fits more the definition of an idea than property. If it can be perfectly replicated it’s not scarce, and property exists to deal with scarcity only, not convenience or other arbitrary cases.

This is one of the reasons why Bitcoin is a big deal, digital scarcity was basically nonexistent before blockchains.