Not at AWS, retail Amazon, but what I saw was COEs were either normal business process or PIP material depending on which org you worked for. And sometimes just the excuse to get you gone.
Where I was about 99.9% of the COEs where just a lesson learned and new process to prevent it. There was one that was basically used as a tool to remove a VERY good engineer, that didn't mesh well with new leadership.
A sister org, one I worked a lot with, wouldn't COE anything. If you were the lead engineer on a product or service that had a COE you were going to get a PIP by year end review. I wasn't surprised when all the talent left that group.