It's on par, as long as you don't do too many refactors on nasty codebases. Now, PyCharm chokes on those nasty refactors too, guessing the right stuff only 70% the stuff in a way that sometimes feels purely random, but at least its find and refactor preview UIs save the day sort of...

One thing that annoys me on VSC is that some operations (jump to defnition etc.) have delays on larger projects, because it does not create an "index db" of your code behind the scenes like PyCharm does, so it can show you usage and search for stuff practically instantly.

Overall VSC is great for developing Python on not-huge and well-behaved projects. For degenerated overgrown messes it's not a good solution :)