The other paradigm is to have actual tooling and UX specialists having put time and effort curating a developer experience that is as smooth and distraction free as possible. And in my experience with the JetBrains IDEs, that doesn't even come at the cost of extensibility (you still have support, either official or community-based, for esoteric stacks and languages, and those can piggyback on the more sophisticated and adequate UX palette).
What should be the deciding factor is the resource consumption, then: if you end up with a less refined and less capable LSP+Extension enhanced text editor, it better be lightweight, right? Well, here again it's pretty clear that those LSPs and Extensions are everything but that, and not only JetBrains IDEs start fast (which was a big area of focus recently), they also respond better using comparable resources.
Just to be clear, I don't hate vscode, I have it installed, but the extent I use it is very limited because it sits in this uncanny valley where it's too bloated for one-off editing of small things like config files (for which I use vim) and editing whole projects folders (for which it's far from delivering as good an experience as an IDE)