The theta map sends code polynomials into the ring of Siegel modular forms of even weights. Explicit description of the image is known for $g\leq 3$ and the surjectivity of the theta map follows. Instead it is known that this map is not surjective for $g\geq 5$. In this paper we discuss the possibility of an embedding between the associated projective varieties. We prove that this is not possible for $g\geq 4$ and consequently we get the non surjectivity of the graded rings for the remaining case $g=4$.