Realistically, there’s not much emacs can’t do, including integrating with copilot[1]. I think it’s niche isn’t system administration, but people who have the time, energy, and interest to really invest in their tools. Its configurability is second to none, and it’s not going anywhere. Emacs will still be around long after vscode is forgotten, and it’s nice to know that the time I spend learning my editor won’t go to waste when some big corp decides to up and leave, or the programming zeitgeist moves on to the shiny new thing.
Nothing lasts forever, but Emacs has enough momentum behind it that I'd be shocked if it dies within our lifetime (assuming there's no general collapse of technological civilization, of course). Even if the FSF were to become defunct, enough people care about Emacs and are involved with it that somebody will continue developing it.
VSCode's development is so totally dominated by one company that it's hard to imagine it continuing to go strong if they decided to discontinue it (Cf. the fate of Atom).
[1]: https://github.com/zerolfx/copilot.el