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That's a complicated question. Having a github and open code is one of the things I look for in a project. I know of people who swear by certain projects, projects that don't have a white paper let alone a github. I do not generally invest in projects that don't have a Github because I'm nosy and wanna see the guts of what's going on. I code, so seeing the code is important to me. There are alternatives to github.
So I know of projects that use alternatives, I do not know of any project I would invest in that doesn't have openly visible code. Github is just a vehicle for open code to be open and some choose other vehicles. That's fine. What isn't fine for me is code that "exists" supposedly but isn't open.
Crypto is about decentralization, so centralized code no one has seen is a giant red flag that there may not actually be any code.

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