Edge may be good for Microsoft, because it allows them to siphon off even more user data and (apparently) inject more ads, but it surely doesn't do anything to help the browser ecosystem.
MS has become just another cloud company nowadays. Not much to differentiate them.
I'm sure it doesn't do anywhere near as much as it would if Edge had its own browser engine or JavaScript engine, but surely it does something to have a competitor who has the resources to maintain a fork if they need to?