Hmm. It's a GT magnet but entrance is by lottery alone? Is there a qualifying exam or IQ score cutoff or something else? If it's just by lottery alone, I would assume that the student body wouldn't be much different from the student body in other local schools (?).

If they have requirements, how stringent are they? Do they set the bar low, low-ish (85th-90th percentile) or high-ish (98th and up)? How heavily do they rely on fuzzy factors like teacher recommendations?

I'd ask specific questions about their policies and what they do. For example, what's the general approach and how does it differ from the other local schools? IMO, the answer to the second part of that question is quite important.

What do they do with highly gifted kids? Hint: do they look confused when you use the term "highly gifted," or are they familiar with it?

It's hard to say in the absence of other information; it could be a least-worst option, if nothing else.