Actually it does.
Metformin lowers bg by approx 1.1 mmol/l for the first 1000mg, and then less for the second 1000mg.
This doesn't seem like a significant amount, until you factor in the benefits long term. The effect, over a 3 month HbA1c could drop the result by an appreciable amount (see diagram) although change in diet will make a far greater difference for T2s. There are other benefits that metformin offers too
The video below gives some very interesting info on the mechanism and effectiveness of metformin, and other D drugs. You just have to get past the speaker's style of presentation to get the info.
https://m.youtube.com/watch?list=LLAHFZspBN2li5eieBK9LSLw&v=pUOC5d0Siws#