The description says it's lightweight, but on my machine it uses over 200 MB of RAM with no files open, and appears to be a Chromium-based thing, much like Atom (as others pointed out, it's based on Electron). Meanwhile, Sublime Text is using less than 100 MB of RAM with dozens of files open, some of them quite big. Visual Studio tends to use less memory than this, too. If "the language services [Microsoft] built for Visual Studio Code [are going to] be available in other editors as well", then I will definitely pass on this one (and this, assuming I ever get interested in developing in .NET again).
On second thought, for now this looks nothing more than a marketing trick, very well pulled off.