I mean, let's be honest, the difference is getting blurrier and blurrier as "text editors" gain more features over time. And workflows, too, aren't that clear-cut... is it wrong for a "text editor" to include built-in autocomplete or git support? What about project-wide regexp search, or is that a better tool for grep? Etc.
At the end of the day, I don't care what a program is classified as, only if it can do what I need it to do. Like many here, I've used Sublime for its speed on simple edits and other editors/IDEs for more complex dev work. That's fine. But VSCode occupies that in-between space, offering a mix of performance and features.
The holy grail for me would be something like PHPStorm but with better performance. I wonder if Java has something to do with it, vs it being built as a native OS app? I don't remember Visual Studio (the full IDE, not VSCode) being this slow, ever, even on old Windows 95 machines. And even back then it was pretty feature-complete too, especially compared to VSCode if not IntelliJ.
I guess my underlying question is whether it's really impossible for an IDE to be both fast and featureful.