I like Borges, but this is one of his weakest stories. The mathematical point made is on the trivial side (and most readers who praise it interpret it as merely making a mathematical point). It is a bit stronger if read as an implicit critique of logocentrism or religious textualism, but still falls short of the best few of his other fictional works.
This story isn't really about mathematics. It's about the human response. It's about how we humans are pattern seeking creatures in a world of chaos that create patterns through our own process of seeking.