It's similar in outcome (doing "stuff" remotely), but not the same architecturally.
VScode runs on the computer in front of you, and it _does not_ send key-presses or other user input over the network at all. Instead VScode sends file-changes over the network to the remote, and executes commands on the remote (e.g. SSH's in and runs 'gcc ...').
With X, XEmacs is not running on the computer in front of you; it's running on a computer far away. Every key-press and mouse click must be transmitted from the computer in front of you over the network, received by the remote computer, then a response sent from the remote to the computer you're interacting with, where it'll be displayed.
VScode runs on the computer in front of you, and it _does not_ send key-presses or other user input over the network at all. Instead VScode sends file-changes over the network to the remote, and executes commands on the remote (e.g. SSH's in and runs 'gcc ...').
With X, XEmacs is not running on the computer in front of you; it's running on a computer far away. Every key-press and mouse click must be transmitted from the computer in front of you over the network, received by the remote computer, then a response sent from the remote to the computer you're interacting with, where it'll be displayed.