The problem with IE was that they basically stopped after IE 6. The innovation was from before. After the release of IE 6, the IE team was basically disbanded, because MS thought they had won the browser wars (which at the time, they had). That was in 2001. IE 7 was only released in 2006, over five years later. And in 2008 Google released the first version of Chrome.
Well, that and it was Microsoft. They had an earned reputation for extend/extinguish. They have mostly shed it with VSCode, but I honestly can't see how. Seems to be in a very similar runbook to how they used to be?
They aren't led by exactly the same people as 20-30 years ago, so things do change a bit. Microsoft also isn't homogenous. They certainly haven't become Samaritans, however.
