It's a bit more complicated than than. The front-end framework that the PlayCanvas Editor is built on (PCUI) is also open source:
https://github.com/playcanvas/pcui
Other open source tools like the glTF viewer are also built on it:
https://github.com/playcanvas/playcanvas-viewer
The rest of the Editor code is unminified and unobfuscated. The is done deliberately so devs can write extensions, report bugs and generally understand how it works. More of the Editor codebase will be open sourced over time.