Unsure how to quantify this kind of hyperbole. Compared to SublimeText 2 which is outdated at this point, VS Code and Atom are only getting back to the standard of fast code editors from the last few years ...
If you go back a few decades, you're competing against vi/vim and emacs, and there's no way you can say VS Code (and atom) can go against the "usefulness" or even productivity of either of those editors and their development environments.