It's good at micro, but not macro. I think that will eventually change with smarter engineering around it, larger context windows, etc. Never underestimate how much code that engineers will write to avoid writing code.
That's what I've found as well. Start describing or writing a function, include the whole file for context and it'll do its job. Give it a whole codebase and it will just wander in the woods burning tokens for ten minutes trying to solve dependencies.
