The best I can say about Rabbits is that it was fine. It was a quick read, fast-paced enough to keep my interest, and given that I'm a big fan of season 1 of the podcast (the less said about season 2 the better), I was already predisposed to find it interesting.
But that's about the extent of my praise. Like most of Terry Miles' fiction projects, Rabbits included a load of impressive-sounding pseudo-science adjacent mumbo jumbo that was interesting to read, but didn't result in a plot. The characterisation was so thin as to be almost transparent, and the antagonists had info-dumped motivations that weren't even vaguely explored, let alone in any depth.
Rabbits was the literary equivalent of jingly keys — nothing but a distraction in the hopes that you won't look too closely and realise there is absolutely nothing of substance beneath the surface.