In what universe?
I routinely use "less -n" to open terabyte-sized text files.
But, for large files, I am not sure it has much to do with Electron in this specific case. Notepad is about as native as they come, and famously struggled with large files - anything over a few dozen KB - for a few decades (maybe still today?). Basically, if you're going to do seriously stupid stuff in an app's code, like loading the entire file upfront and applying word-wrapping, it doesn't really matter if you're doing it 2-5x faster, it will still take too long.
Your comment brought me memories. This exactly was what made me switch over too back then.
Pre-VS setup was: Atom for most cases but [large files | quickly edit something] was with Brackets (It was unbelievably swift)
VS Code comes in and says: Don't worry. I got you!
It really does come down to how people build on top of it.
I tried opening a 2gb log file in Atom and it took like 10 minutes before crashing.
VSCode on the other hand, while a bit slow, opened it and I could search quickly and scroll it without any issue at all.
That was what caused me to switch.