By default, the client makes sure that references to properties, entities and entity sets are pointing to existing elements.
The most often problem that we had to deal with was an invalid ValueList annotation pointing to a non-existing property.
To enable verification of service definition, the client instance of the class Service publishes the property schema which returns an instance of the class Schema from the module pyodata.v2.model and it contains parsed $metadata.
If you need to iterate over all EntitySets:
for es in service.schema.entity_sets:
print(es.name)
or if you just need the list of EntitySet names:
entity_set_names = [es.name for es in service.schema.entity_sets]
assert northwind.schema.entity_type('Customer').proprty('CustomerID').label == 'Identifier'
assert northwind.schema.entity_type('Customer').proprty('City').value_helper is not None