On my computer, Notepad++ has ended that dominance centuries ago by becoming Notepad++!
Isn't Theia just yet another VS Code clone built on top of the ~VS Code platform? Also, it's a true shame that all the usable names have been used up.
It uses the same Monaco editor as VS Code but is not based on the VS Code platform. That being said I have to question how serious they are when they can't be bothered to make a macOS arm native build available.