Monetarily, Visual Studio.
There are tons of enterprise development workflows, and plugins, that probably will never be ported into VSCode, from their .NET and COM implementations.
Now in terms of mindshare, and gateway drug into Microsoft ecosystem, definitely VSCode.
It is also the best Web IDE, for the return of timesharing development, sorry cloud.
That alone means everyone that is on Github and Azure, gets to use it as the modern version from X Windows and RDP/Citrix sessions.
Not bad, for Eclipse v2 (Enrich Gamma is one of the main architects), pity the whole Electron shell though.
How is VSCode a "gateway drug" into the MS ecosystem? It's good PR, for sure, but it has little to no conceptual/GUI overlap with, say, Windows.
FWIW I use it via Linux .deb and integrate with a private GitLab.
Worrying about Windows is fighting the last war.
Azure, Github, CoPilot, .NET (why do you think it is cross-platform), Java (yes, MS is back in Java land, they were the ones with initial ARM support), Go (they have their own FIPS compliant distro), Python (although with layoffs maybe not anymore), Rust, npm, Powershell, Powerapps, 365 AddIns, Teams plugins, clang/cmake (part of Visual Studio installer), Azure Linux, Sphere OS,....
Azure and GitHub are large Microsoft revenue sources. Both have first-class VSC integration.
Because it opens the gate up to the rest of Microsoft tools.
Once you're gonna play with azure, GitHub, vsc, you're bit by bit invested in the ecosystem and opening the wallet for that other feature or integration.
VS Code is a downgrade from open source to freeware. At least the C++ plugin is freeware. And they block access to the extension store from any fork (self-compiling VS code is also considered a fork). So if you are an OSS purist, VS is bad. Other than that it's effing great.
It is also the best Web IDE, for the return of timesharing development, sorry cloud.
Also the best webdev IDE.