What I've gathered from many of the discussions around this topic is that the levitation is a notable feature of superconductors due to th Meissner(?) Effect. So if it couldnt levitate, there would be no reason to suspect that it is a superconductor. Because it does levitate, superconductivity is one of a few possibilities.

There have been indicators it may be a semiconductor instead, but apparently the conditions to accurately produce the material are vague/not fully understood - so attempts at reproduction have failed to rule it in or out 100%

The reason that superconductors levitate it that they are perfectly diamagnetic. There are other materials that are strongly diamagnetic, such as bismuth , that can be made to levitate but normally the effect is not stable enough without additional components, such as being sandwiched between two powerful magnets. However Pyrolytic carbon will levitate , at room temperature, above a strong enough magnet in the same way as a superconductor would.

Levitation is a fun way to demonstrate that you’ve got a superconductor. That’s not the only way to make things levitate, so not all levitating things are superconductors.