I don't think so. Keep in mind that Atom is used internally at Github, and is starting to be adopted by some big names. Things like that don't get chocked out by the competition. I'm not sure how much funding it'll loose internally if they aren't the #1 but I don't think it'll effect them as much as if Sublime Texts competitor got it's funding from sales for instance.
Uh who? About every other editor and IDE under the sun is leagues ahead of Atom. Honestly an editor based around a freaking browser is already too heavy for usage. No, I don't want to use a browser engine to run my editing environment, and a ton of "big names" are not picking up Atom at all.
Going to need to see some citations, not downvotes Hacker News. I don't care if it's the "hip new editor", being made by GitHub is not enough.
Electron is a souped up Chromium Embedded Framework, patched to make it easier to develop desktop applications. Atom is built on top of that.
So, Visual Studio Code only uses the "low level" components from the Atom project, but it doesn't use Atom itself (unlike Nuclide which is, instead, a set of Atom plugins).
One year ago, open sourcing ST could have prevented Atom from ever taking off, but now it's not going to change much.
Citation needed. All I hear about Atom is that people are giving up on it.
My team just voluntarily switched over from Sublime and no regrets so far.