No, it has a different purpose; VS Code extension and the former ADS are targeted for development, while SSMS is for server and database administration. I am a heavy user of SSMS and can do everything I ever need there, I don't use the VS Code extension for MS SQL even if I have it installed and I use VS Code quite a lot. This is because I am also acting as a backup and supervisor for our DBA team, so I am involved in DBA work.
Lead PM for SQL in VS Code here. I’m glad to hear SSMS is working well for you! I’d love to better understand why VS Code doesn’t meet your needs in the same way.
We’re actively working to improve the experience, and learning what works for you in SSMS would be incredibly valuable.