I guess they'd judge it by looking at:
The teaching - engaging, challenging, differentiated to fit students' needs, books neat, students taking pride in their work ? Curriculum that's appropriate and interesting? Teachers with good subject knowledge?
Or - a series of random tasks, tatty exercise books, work half completed or not at all, covered in graffiti, schemes of work downloaded from free resource sites, no evidence of differentiation.
Are books and folders marked conistently and with targets to help the child improve? Or are they not marked at all?
Behaviour - are students sensible in lessons, well behaved around the site, respectful? Or rude and boisterous and bully each other?
Does the HT and senior management have a shared vision of the school that's enhanced and driven by governors, or not?
The fact it's only been open 2 years is neither here nor there - it's perfectly possible to judge still :)