MonoDevelop is a clone of Visual Studio written in C# which isn't even remotely compatible with the mis-named Visual Studio Code.
If they want to port MonoDevelop to Visual Studio Code, they would have to re-write all the features from scratch.
At this point they might as well re-write Visual Studio to node.js and not waste time on porting MonoDevelop.
I hope it doesn't happen. I certainly don't want to develop on an IDE written on top of a God-awful language with a ridiculously slow run-time.