VSCode has raised msft's profile with devs not using the msft stack. If they now add like azure integration or something, I can imagine VSCode driving traffic to azure.
Microsoft has an annoying "in your face" bundling precedent. (Windows vs. IE, Windows Store. Renaming hell: windows live..editor, messenger, essentials, msn..messenger, One..drive, Xbox..music)
It should be okay, if the VS code team can integrate Azure without management or marketing taking over. Else VS code would become Azure code and it'll nag you to login to your Azure account on every startup.