I have to admit that I find this odd for a few reasons:
1) VS is one of the best products MS ships. And its probably best in industry.
2) VS has done a fair bit of really good work in the past few years. The work in C# has definitely been ahead of its peers in the industry. The debugger continuously seems to get better. And even where it plays catch up, like ASP.NET MVC, its doing so rapid and smartly.
3) VS is where it seems like there are a lot of people who look outside the company. I've never met Scott Hanselman, but he seems like the type of person who could rattle off every open source project in existence.
4) Scott Guthrie seems pretty visionary and he's in VS isn't he?
I'm not doubting any of what you said, but it seems like VS is the one place in MS that I'd tell the rest of the company to look for inspiration -- although as an insider it appears otherwise.