The electron hate really is getting old. vscode and some other electron apps run far faster than many comparable programs with a more traditional architecture. Yes electron could be considered inelegant, but so can a great many things in computing. If it works, we should use it.
Yep. If anything, "old-school" Visual Studio is the one that feels bloated by comparison, despite being a native app. Software quality cannot be reduced to the choice of language or framework.
VSCode is truly a full-fledged IDE for TypeScript at least, and via plugins it can play the part for several other languages, including Rust. Mostly those depend on the quality of their Language Server implementations.