Emacs might be a solid editor choice but my intuition is that it probably won't be worth it for the same reason LiteXL wasn't for me. If I do work on adding features to my editor I think I'd be more comfortable doing it in js, html and css. And if possible I'd rather start with a base that's mostly where I want it to be. Trying to turn emacs into vscode sounds like way more of a project than turning Theia or CodeMirror into vscode.
https://github.com/DevelopmentCool2449/visual-emacs
Which didn't really impress me terribly much.