Going to add my 2 cents and personal experience.
TL;DR, I did switch from Atom to VS Code, and GitHub has mentioned multiple times that Atom isn't going anywhere.
I started using Atom in alpha. I did quickly fall in love with it and was a user even after a lot of people jumped ship after MS bought GitHub. I still like a handful of things about it better than VS Code (the find and replace layout, being able to search installed packages instead of either listing installed or searching), and running it on Linux (which I use on my own machine now) is far faster and less resource-intensive than running it on Windows.
It does still lag in some areas a little bit though, like when you do ctrl-p to find a project file. Takes forever to index a project (or it did last time I used it).
My reasons for switching were ultimately performance, simple/clean UI, integrated terminal, personal performance/consistency (I was using it at work already), and (yes, sue me) the available themes were alright enough to satisfy my ridiculous need to switch color schemes occasionally.
As for whether it's going anywhere, Lee Dohm has said multiple times that Atom is sticking around. And there are a number of users who settled on Atom even after messing around with Code, Sublime and other alternatives. They like that they can get Atom to do what they need it to do, especially when Code's API restricts them.
The discussion does come up occasionally though still with the users. I joined Atom's Slack group a while ago and haven't left yet despite the switch to Code. Heck I may yet give Atom a try now and again just to see what's changed.
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