(Visual Studio for Mac is, of course, an entirely different product and codebase).
The brand name has been re-used for other software. Visual Studio for Mac is Xamarin. Visual Studio Code is on the Electron platform.
”For a long time now developers have been asking why Visual Studio hasn’t made to switch to 64-bit. Rather than effort or opportunity cost, the primary reason is performance.” https://www.infoq.com/news/2016/01/VS-64-bit
The new plugin architecture, replacing the COM one, is implemented in .NET.
Visual Studio for Mac has many new features that weren't present in Xamarin Studio, like .NET Core support, ASP.NET types of workflows. And all new Xamarin.Forms improvements are shared between both IDEs.
The question is whether there's enough of a market between broad-based professional apps and web apps to justify maintenance of the WPF/.NET stack.
I can understand a "Is it worth the maintenance?" question...
but I would bet .Net has better longevity and Enterprise support compared to the rapidly evolving landscape of HTML/CSS/Javascript.