In my experience, it works up to the point where it installs the extensions, and then it does a bunch of processing and still can't figure out how to run the project or what the code means anyway. Plus I now have a slew of new extensions installed, and I'm not sure which are new looking in my list of extensions.
IntelliJ has a pretty damn good track record for me, when I import a project it indexes for a minute or so, then it automatically knows the entrypoint to run the project, and has a fantastic understanding of all my code. Cmd+click any symbol and it can show me definitions, usages, implementations, etc. I can hit shift+F6 to rename a symbol, and it hits every usage perfectly (as opposed to every time I've tried to use VS Code to rename something, and it just causes me more problems than if I were to do it manually). I haven't found any other text editor or IDE that works as seamlessly in this regard, and it's a dealbreaker for my productivity.