It really seems that way, but finding good foundations/abstractions is crucial if you are building such megalomaniac project that should cover all JS/TS tooling. It seems they feel pretty good with what they found (Rust & some form of CST) and they will drop formatter soon. We'll see if these foundations will last at least 1000 years.
They even lost one of their founders, which doesn't bode super well.
seriously -- their development churn makes yarn and npm development look hypersonic.