As a pure coyote rifle, I think it is too light.
As a fun gopher, small pest round that can handle coyotes if you keep the distances "reasonable", it is very flat shooting and, according to the things I see and read, certainly accurate enough for such work. But I think coyotes are very tough, and they often require the ability to reach way out there. The .204 uses very light bullets that drift in wind and are unsuitable for reliable clean kills at long range on coyotes. If you are really looking for a "coyote rifle", I think a .22-250 or even a .243 will be much more appropriate. If you will actually use it much more for smaller varmints and just occasional coyotes, the .204 is not a bad choice.
Lots of people claim they have used it and it works. The fact someone did something does not make it a good idea. If you have one, use it. If you are buying something, get a more suitable chambering.